I made another impulse buy yesterday with a stock that went from $47 to $5 in a matter of a couple minutes.
I don’t think I can imagine why it dived so much but I decided to buy a couple thousand shares and got them for $8 each.
If I had waited about twenty more minutes when it bottomed out I would have got them for $5, but I was surprised and thought that I had grabbed them at the bottom. Maybe this month it will dive down to $3 and stay there, who knows? I worked more than 2 minutes at the heating, ventilation, and A/C business to gain that cash so I hope I don’t lose it all with this impulse buy. Worst case scenario I will have to hold the stock for a while till it hopefully bounces back again. Anyways, I still have to keep entirely working selling heat pumps and compressors even if all of our cash comes back again because I don’t want to touch it for a few years. I was going to invest in an a/c and heating business, and easily should have, because its price went up a lot this past few weeks. I can imagine how worried the people who purchased that whole stock yesterday at $46 thinking it was going to keep going up but then ended up crashing and losing almost 90% of its value in a couple of minutes. Imagine entirely working at a local business for a few years and saving $100K only to have it turn into $10K the next afternoon. This kind of stuff happens more than you think.