Post #13 - strategy: BMY, June/ July 2024
Sold this stock today for a marginal gain to free up some cash to get a better quality stock. When I started to build my portfolio on 9 June, I made a lot of rookie mistakes. while this stock is not one of those, the price was right to let it go for now. I will be circling back to this stock because it is undervalued and has growth potential.
Do you think this is a right move?
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A casual investor from MY, learning about the world of equity investment and setting up my retirement portfolio.
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SuperNoobPaPa : I think you sold a good stock which was acquired at very good price. Even the price gone up today, it is just a reflection of potential strong share price recovery. The sold down was mainly due to concern on company’s recent acquisition. Be that as it may, it’s worth to hold a 5% dividend yield company while BMY derives synergy from their recent acquisition. And if the company can deliver, share price will normalized and the upside could be 40% of your acquired price.
Ginvest SuperNoobPaPa : I agree with you. Patience is the game, I have an open order to sell at 60, and collect the dividend along the way
thoughtful Bat_8163 SuperNoobPaPa : Totally agreed. It is a long term play
Wealth Accumulator : Yes. Agree with Supernoobpapa
CNNT OP : Admittedly, I was impatient and sold it at 46, and when I woke up today, it was 50. Painful lesson.