Camber Energy - SELL Sell sell ! $CEL afterthoughts !
After reading the Hot Topic item 2 more times, I decided to participate in "Share Your Last Trade in 2022 !".
Initially I had interpreted the topic as last trade on the last day of Dec 2022.
Was thinking aloud during the first read over - WOW so challenging to have to perform a last transaction on 30 Dec; before being eligible to share.
If you have read some of my other posts, you would've known that I am bullish about Energy stocks.
Truth be told, I am still waiting for the right opportunity.
If its not in 2022, then it might be in 2023.
So in the meantime, I did take a "liking" to energy stock $Camber Energy(CEI)$ .
I know I know, its a penny stock.
When I purchased it, I had some vouchers lying around so it was a "win-win" situation of sort.
I only had to pay for the commision & fees charges.
More importantly, after doing my quick research (yes, I did research despite it being a penny stock) - it looked promising; not because of the parent stock but subsidiary stock under CEI.
As the subsidiary stock is an OTC that I have no access; the 2nd best alternative was to buy into CEI.
And I did.
Camber Energy - YTD stock price
- Bought into CEI at different times - between mid Nov to early Dec using vouchers
- It was over several purchases because the voucher denomination was only US$10
- "Bad" news was that with each purchase, stock price fell.
The "Bomb" news on 15 Dec 2022
- Then the Bomb dropped on 15 Dec that CEI will be doing a Reverse Split on 30 Dec.
- Conversion was - every 50 shares becomes 1 share after.
- The stock price trended up on 16 Dec; but was lower than my Dollar Cost Average price.
- Decided to observe the following week, hoping for a "better" price.
- Better never arrive
- The reverse split date was brought forward from 30 Dec to 21 Dec.
Tiger "sell" transaction
- On 20 Dec (Tue) decided not to wait further and sold on the eve of the split.
- Netted a small amount... whahahah
Since The Split
- After the exercise, the "shored up" stock price was around US$3.
- Unfortunately the share price just continued to fall; just as it had prior to reverse split.
- As of 30 Dec, CEI share price was US$2.02
There is a silver lining afterall
What Important Lesson Did I Learn From This Episode ?
- There is this saying in Wall Street - "Buy the Rumour, Sell the News".
- This is the lesson that I have learnt from the "saga" with Camber Energy.
- If I had sold immediately on 15 Dec after reading about the reverse split; I would have gotten about almost 10% more from the sales proceeds.
- Do you have a similar experience on the sayings "Buy the Rumours, Sell the News" ?
- Now that Camber Energy is only US$2; for existing shareholder - will you add more to your holdings ?
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This is the lesson that I have learnt from the "saga" with Camber Energy. - I sold some and kept some, you should have wrote this sooner bud
Tks for reading my post.
Pls "Like" it ok. Tks.
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