I invested in MU a couple months ago, and I'm now down by 20%. I could keep dollar cost averaging, or I can cut my losses now, sell my shares and reinvest them in SPY. This is really the only "risky" stock in my portfolio right now, since my other holdings are mostly index funds and relatively safe stocks like Costco, Coke and Google. I'm usually quite risk averse, but just this once I thought I'd take a chance by buying into the memory stock hype and then immediately regretted it lol. I invested quite a significant amount into MU too (foolish of me, I know). But what should I do now?
Micron stock, cut my losses or keep buying?
byu/anotherhappylurker instocks
Posted by anotherhappylurker
7 Comments
Sell so I can buy. Tia!
If you loved it at 400 you’ll love it even more at 320.
I couldn’t resist and started buying here. Forward p/e of 5 is pretty insane. Good place to be buying not selling imo. Everything’s gonna get hit right now and there’s people who made a lot of money going risk off.
I’d hold onto them until tech reclaims all-time highs. It might take a while but if Republicans want to hold the Senate, the market needs to be in decent shape by October. Micron should bounce back eventually and you can derisk then. But if it keeps dropping, I would consider buying some and lowering your average cost
Sell bi-weekly CCs over 400 if you have 100+ shares. If not then sell as many shares as it takes until you stop worrying about it.
Or the more rational option is to just hold and stop buying more. Things will rebound eventually.
Sounds like the real issue is risk tolerance more than the stock itself. If a 20% drop is already causing stress, that position is probably too big or just not a good fit. No shame in rotating back into something like SPY if that helps you sleep better.