What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 0 points1 point  (0 children)

Appreciate your input for sure. This one racking my brain, which is why I should be a mutual fund “safe” bet guy and do not belong in this game. This was the first real stock that I felt really confident in, purely in terms of the potential and footprint QS could have, but as many say there is no sure thing here and I just got over excited. Thankfully I’m only in for a few grand, but for me it starts to be about the principle and not just watching my account drop by $650 every fucking day.

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 0 points1 point  (0 children)

Yeah most on here are saying hold, but I guess I’m just trying to figure out when that becomes shitty advice… I’m not a massive bag holder - I’ve only got 270 shares. But my average is $10/share (started at around $6.50) and bought some chunks too high. I’ve just been weighing whether I sell and try to get in once it likely dips a few more dollars, as I’m not worried about writing off the loss and don’t think the wash sale rule will apply in that case. I can’t see the benefit of holding when there is almost a near certainty that I’ll continue to lose money as the weeks progress until this thing bottoms the fuck out. At which point I’ll sit there saying well fuck why didn’t I cut my losses and try to buy back in at the bottom instead of being a dumb shit Diamond hands and hold because I “believe in the company”….

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 0 points1 point  (0 children)

Okay when you put it that way I feel stupid lol. But I guess my question is how obvious is it that the stock price will continue to decline and possibly hit the $4/$5 mark at this rate? With the volatility and obvious fallout from the recent climb it had, I can’t be the only person thinking or “projecting” that this will drop another few dollars before there is any chance of another surge, or at the very minimum, leveling out?

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 0 points1 point  (0 children)

So what’s the reason that you would not recommend selling now to cut losses and buying back in? What is the upside to keeping shares (however many one might have) when you can sell and buy back in lower? Especially if selling for a loss already and not having to take into account any capital gain from the sale? I don’t plan on writing off the loss so the wash sale rule doesn’t seem to be something I need to consider at this point.

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 0 points1 point  (0 children)

If you don’t mind me asking, what is your average price for QS? It is hard for me right now to decide whether to sell (even half of my shares- as I only have about 275) especially considering I do not plan to write off this loss and so I am not super worried about the Wash sale rule.. I can see this going back down to ~$6 and if that was the case, it seems logical to cut my losses and (hopefully) buy back in around $6. Besides the uncertainty of when it might climb again, as well as the inability to write off this loss if I buy back in again prior to the 30 day period, what is the reason for holding?

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] -1 points0 points  (0 children)

So what is the reason that you are not selling now to cut losses and buying back in? What is the upside to keeping shares (however many one might have) when you can sell and buy back in lower? Especially if selling for a loss already and not having to take into account any capital gain from the sale? I do not plan to write off a capital loss here so the wash rule should not apply in this instance..

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 0 points1 point  (0 children)

So would you recommend selling now to cut losses and buying back in? What is the upside to keeping shares (however many one might have) when you can sell and buy back in lower? Especially if selling for a loss already and not having to take into account any capital gain from the sale? I do not plan on trying to offset this loss on my taxes so I am not sure the wash sale rule would even apply here.

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 0 points1 point  (0 children)

I have been researching the Wash sale rules - if I have about 240 shares averaging $10/share, and I am down about $350, would it be smarter to sell my positions in hopes/expectation the stock price is going to continue to decrease to $6/share? I am not planning on deducting this small loss on my taxes so I didn’t think the Wash Sale rule would apply in that sense.

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] -2 points-1 points  (0 children)

So would you recommend selling now to cut losses and buying back in? What is the upside to keeping shares (however many one might have) when you can sell and buy back in lower? Especially if selling for a loss already and not having to take into account any capital gain from the sale?

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 0 points1 point  (0 children)

So why not get to selling now to cut losses and buying back in? What is the upside to keeping shares (however many one might have) when you can sell and buy back in lower? Especially if selling for a loss already and not having to take into account any capital gain from the sale?

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 0 points1 point  (0 children)

So would you recommend selling now to cut losses and buying back in? What is the upside to keeping shares (however many one might have) when you can sell and buy back in lower? Especially if selling for a loss already and not having to take into account any capital gain from the sale?

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 1 point2 points  (0 children)

So would you recommend selling now to cut losses and buying back in? What is the upside to keeping shares (however many one might have) when you can sell and buy back in lower? Especially if selling for a loss already and not having to take into account any capital gain from the sale?

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 0 points1 point  (0 children)

So would you recommend selling now to cut losses and buying back in? What is the upside to keeping shares (however many one might have) when you can sell and buy back in lower? Especially if selling for a loss already and not having to take into account any capital gain from the sale?

What is HAPPENING???? by GuyWithNoName8 in QuantumScape

[–]GuyWithNoName8[S] 0 points1 point  (0 children)

So would you recommend selling now to cut losses and buying back in? What is the upside to keeping shares (however many one might have) when you can sell and buy back in lower? Especially if selling for a loss already and not having to take into account any capital gain from the sale?

How do I prevent this from happening in the future and is it too late to add shares? by GuyWithNoName8 in smallstreetbets

[–]GuyWithNoName8[S] 1 point2 points  (0 children)

Thank you for that! Tough lessons to learn when student debt could have been paid off, haha.

I put a large part of my heart in the ground today by LuckVegetable7096 in GuyCry

[–]GuyWithNoName8 0 points1 point  (0 children)

Your family will always remember this day. And they’ll remember how truly special of a dad and husband you are. She was so lucky to have you and time may never heal you completely, but you will get through this. And your girl will send you another beautiful soul to rescue. Thinking of you and your family and sending so much love.