Is GME dead? Sell or Hold

[IMhooked]

What was your hope for your $ when you bought in? Earn a profit and cash out? OR did you believe GME was undervalued and you were purchasing stock in a solid company with solid financials for the long term? Were you FOR THE CAUSE? Was this fun money? Did you watch it daily/hourly and if so if your goal was a profit why didn't you sell?

You could hold and could endure more/total loss. It could rise but at what point are you going to "cash out"?

What are the short term and long term capital gains/losses mean for you if and when you do sell?

Are you just getting into TRADING or are you at the point of starting to INVEST? To some they mean the same thing. To others they're entirely different practices.

[mastergun]

What was your hope for your $ when you bought in? Earn a profit and cash out? OR did you believe GME was undervalued and you were purchasing stock in a solid company with solid financials for the long term? Were you FOR THE CAUSE? Was this fun money? Did you watch it daily/hourly and if so if your goal was a profit why didn't you sell?

You could hold and could endure more/total loss. It could rise but at what point are you going to "cash out"?

What are the short term and long term capital gains/losses mean for you if and when you do sell?

Are you just getting into TRADING or are you at the point of starting to INVEST? To some they mean the same thing. To others they're entirely different practices.

IMhooked, thanks for the response. I'm embarrassed to say, I bought into the hype and was hoping for some quick easy money. I've never personally traded stocks, fortunately the delay in opening and funding a brokerage account saved me quite a bit of cash. I caught the GME stock on the way down and not up (it could have been much worse).

I've always just paid into my 401k and mutual funds, never really paid much attention to them. The whole GME thing got me interested in trading stocks. I've really started to find all of this very interesting, this is all fun money to see how I could, learn about the stock market and maybe make some cash in the process.

[IMhooked]

IMhooked, thanks for the response. I'm embarrassed to say, I bought into the hype and was hoping for some quick easy money. I've never personally traded stocks, fortunately the delay in opening and funding a brokerage account saved me quite a bit of cash. I caught the GME stock on the way down and not up (it could have been much worse).

I've always just paid into my 401k and mutual funds, never really paid much attention to them. The whole GME thing got me interested in trading stocks. I've really started to find all of this very interesting, this is all fun money to see how I could, learn about the stock market and maybe make some cash in the process.

Chalk this up to a "lesson learned" or a Tuition paid of sorts...You learned something by doing and as long as you learn it's then not a full blown mistake.

Most successful investors who tinker with "play money" and scratch their itch with individual stocks, do so with 5% of their portfolio.

Investing is a long term game. Make a plan for 10-20 years that makes sense for you and your personal goals. If you drive in your daily life or workout I can't recommend podcasts or audiobooks like JL Collins "Simple Path to Wealth" enough. There's a ton of quality info to consume on getting off on the right foot when it comes to your financial future. Even the public library should have a pretty great consumable section if you search "finance". Free to check out!

Looking for the quick pay day is hard to come by.

It's awesome that you've become aware of the power that investing can provide. Learn about it as much as you can because no one will manage your money better than you!

When it comes to your current situation, cut your losses and get out would be my recommendation. The sooner you move away from this experience with GME the sooner you can start making the right moves on the path to wealth.