Or was the stock overvalued on why did they sell?
I think some videos in the internet says converge is for long term investment due to the stability of the company, however some and me as a investor might find it quite challenging if it is to be used for short term investment
by haruhi 10/28/2020 (Edited)
Traders may have found cheaper telco stocks with momentum. Your risk tolerance is under test.
by barry 10/30/2020
converge soared high, now going down again
by bert26000 11/19/2021
there's a lot of hype for a stock doing IPO, and i would say 7 or 8 of 10 IPOs end up bad. once a trader reaches a maximum of waiting, s/he simply dumps the stock and moves on the next even with a small loss because s/he saw it happen and happen. an intraday high is all it needs and your stock would go down. If you really believe in your company (i used the word company because your value is focused NOT on the price of the stock, but in the company) you should have a long-term view on its value. Do you see it existing 10 years from now, raking profits? Or do you see it being dumped, bought at a meager price by some heavy weight? You answer to those questions should be your guiding principle. Else, what we do is not investing, but merely trading, a highly intellectualized casino of sorts.
Coke started trading in 1919 at USD 40 per share. Then it plummetted to almost half its price the year after. But if you were part of the original 1 share of coke in 1919, that value - adding dividends and stock split throughout the many years - would be valued at $12,748,802 in 2015, or a 14.11% annual increase 100 years in the making. I ain;'t saying you stay with converge for 100 years, nor that it will be like Coke. But if you are buying on value, this dip will be meaningless to you. If and only if, you believe that Converge at the IPO price you bought for , is a value buy.
Disclaimer, I am not a fan of Converge. Nor do I hold Converge. I don't believe in IPO, but I started investing because of an IPO (of Petron in 1995). I know, you weren't even born yet. :D
I suggest you read Value investing books - Wall Street for Sale, One up on wall street, How to trade stocks like Warren Buffett.
I also suggest a decent Technical analysis book to balance things out - How to make money in stocks by WIlliam O Neil
by rgaphd 06/05/2022