Latest information on GameStop, AMC, and different shares which have seen their costs skyrocket due to particular person merchants elevating them, partially to hit brief sellers, introduced again recollections of my solely foray into day buying and selling.
Within the fall of 2000, I used to be dwelling in Florida, working nights at a newspaper in St. Petersburg, with loads of free time in the course of the day and no youngsters.
This was the twilight of the primary tech firm increase, and plenty of previously high-flying tech firms had seen their inventory costs slide again all the way down to Earth.
I made a decision that I might afford to take an opportunity available on the market with a modest sum of $ 200. I opened an internet buying and selling account (cannot bear in mind which brokerage) and narrowed my search to 2 shares that commerce round $ 2 a share, intending to purchase 100 shares.
The 2 shares have been Pets.com and Priceline.com.
I do not bear in mind what analysis I did to find out which shares could be finest, however I ended up going to Pets.com, reasoning that purchasing pet meals on-line was the quickest rising market than on-line journey.
Evidently, that was not the best choice. A number of weeks later, I bought my Pets.com inventory for $ 1.25 a share, struggling a modest loss however avoiding shedding all my cash when the corporate went bankrupt a few months later.