Welcome, everyone, to my latest mailbag segment. Many of you commented on last week’s video about Moderna Inc. (Nasdaq: MRNA) and where I see the stock potentially doubling or even tripling by the end of this year.
At the current price, you’re getting a stock that has the potential to double or triple. Many of you complimented the video, which I appreciate. But it sounds like many of you also bought the stock back in December, just as it peaked — and before it fell 40%.
I know the feeling. I know the frustration. And it’s not fun.
Now you’re wondering what to do with the shares. I cannot advise you as I’m not a registered investment adviser… nor a broker… nor a financial planner. That’s not what we do here at WealthPress.
Like you, I’m an investor myself, just giving my opinions and sharing my experience.
But if you already own the shares and your position is underwater, if you do not need the money for something else important like rent or food… Why not have some patience and what my old football coach used to call “intestinal fortitude” with the stock and see how it plays out?
And always consider risk management when buying stocks and how many shares you buy. (Pro tip: Check out my guide on how much you should invest.)
Years ago, I used to be especially fearful myself. Then I got into the habit of buying stocks in smaller quantities. That way I wasn’t freaked out if the shares suddenly tanked.
But I also got into the habit of holding my position for months or even years. Eventually you develop more patience with your positions and realize… Good stocks go on great runs, they pull back a bit, rest for days, weeks or months… and then they move higher again.
On to this week’s other questions!
What do you think about (the) world of cannabis in the future
It just so happens I posted a video this past week on this sector, which I’m actually interested in now that there’s been a change in power in Washington.
I also posted a video recently saying it might be time to dump shares of Apple while it’s near record highs and since the company is considering getting into the EV market.
Check out my short video and let’s dive into several topics you emailed about including Apple Inc. (Nasdaq: AAPL), more broad thoughts on the tech sector, a great question about biotech stocks and my favorite drone stock (which I’m up 170% on!).
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