It wasn’t until someone on Facebook linked to a stock market web page today that I realized that shares of Electronic Arts had been trading above $40 since about Halloween. I’m a fool for not knowing this because as this previous post points out, I had just over 100 shares that were worthless since I bought them at or just above the magic $40 mark.
For most of these shares, I have waited since 2008 for this day (well, I guess I waited until Halloween but I was clueless on that day). I didn’t find out until after the market was closed today so I couldn’t act on it right away. To refresh your memory, I have two sets of shares that were purchased at just over $40 and two at basically $43. The stock closed at $47.24 today. So the question is, what to do?
I always said for these shares I just wanted to break even. Yes, it kinda sucks that I essentially gave away thousands of dollars for about six years or more and I just want it to come back even Steven. I’m ok with that. I’ve already put it in a limit order for one set of shares to sell at $47. I did this because I didn’t want to sell all my shares just in case the stock went up again tomorrow. Yes, after saying I just wanted my money back, which I could have done by selling all my shares right away, I am possibly repeating my original mistake by waiting again.
As I write this, the markets won’t open for another three and a half hours. I can see the “cancel order” button in my other browser window. Part of me wants to cancel my initial sell order and do another one where I sell all four sets of shares. If the share price rises tomorrow I will lose out on some profit but is this the time to be greedy again? That’s what got me into this predicament in the first place! Every single share I have that used to be worthless will now make me some profit at $47.24. I need to take my evening shower and cleanse the various folds around my body. I’ll use that time to think about it. When I return it will on a new paragraph, I’ll be right back.
Alright, I’m back from bathing with clean(er) genitals and a clear mind. I have decided to honour my original intention to just get back the money I put in for these stocks so many years ago (plus a tiny bit of profit). I will cancel the order I put in earlier this evening and do another one where I sell all the shares at whatever the market price is in the morning. Once they are sold, it will complete this long journey.
In the summer of 2012, the stock dipped to down to almost $10 a share. I had no clue I just had to wait another two years for it get back to $40. I was sure it would take at least five years, possibly even a decade. To any of my co-workers who held onto shares at $50 or above, I wish you all the best in the coming weeks and months. I, for one, am getting off this stock market roller coaster.