$American Virtual (AVCTQ.US)$ Blaming anyone doesn't help. W...
Blaming anyone doesn't help. We lost due to our own stupidity. Never get influenced by pumpers who tell fairy tale stories especially in Webull. I cut the loss and it's time to move on. Good bye AVCTQ. Lesson learned.. only invest in Big, financially strong and stable company. Limit investment in speculative companies.
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NickSaSa : i also sold n left...consider bad luck..bo bian
Ellan Trade OP NickSaSa : We gambled and lost. And I lost big on this one... and it's very painful. Never repeat the mistake again.
MuscMoo : I think a better lesson for you would be to learn how to set stop losses.... sorry it didn't work out for you, just learn from it and move on.
YYVE : Sorry for you my friend.
Ellan Trade OP MuscMoo : Thank you for your advice.
MuscMoo Ellan Trade OP : yeah it sucks to be in that situation, I've been there too.... no need to beat yourself up
Ellan Trade OP YYVE : Usually, average down would help to reduce the loss, but in my situation, it increased my loss as the judge approved the auction sale. Best of luck to you.. my friend.
MuscMoo Ellan Trade OP : you too! I've had a lot of success with trailing stop orders but the problem is, at least on E-Trade, they don't let me put them for any stocks that are under a dollar.... the trailing stock losses on other stocks have saved me a lot of money over the years.... and once you learn a little bit about them they're really not that tough to understand
Ellan Trade OP MuscMoo : If I was trading, I would have set a stop loss or trailing stop and take profit target. But I invested in this company a year ago and hoped for a buyout by Microsoft. Microsoft made an offer of $9 per share but was rejected by the previous CEO. There was a change of CEO and Board of Directors in Aug 2022. Since then everything went downhill. Eventually they filled for Ch 11 Bankruptcy... voluntarily, despite no creditors sued them. It seems to facilitate an Auction under the Bankruptcy court's jurisdiction. Mysteriously the interested companies Microsoft, AT&T, Oracle didn't turn up during the Auction and a private company Skyvera was declared the winner of the auction. AVCTQ was bought by Skyvera for a measly $7 million. Despite some objections from shareholders, the court approved the auction sale. Basically shareholders will NOT get anything for their shares because the $7 million collected may not be enough even to pay for court charges and the legal fee. Debtors and shareholders will not get anything from this sale.
MuscMoo Ellan Trade OP : thank you for explaining that to me because I've been following a little bit but I just kind of took it as a flyer.... I've heard bits and pieces of that but I didn't understand what everybody was talking about with regards to that court case yesterday.... sounds really sketchy and just makes you wonder what type of collusion was happening.... seems like a good play by you though with that background... just more reason not to beat yourself up you can't predict something that crazy....