RE: 40% drop. Trade or hold4 Dec 2019 08:38
I also have a small holding where I bought around £1K at 2.45p. After a while I did a 50% top-up which I set-up a limit buy at 3.37p but over the course of 2 days the price went higher. I figured people would profit take at 4p, so I did a high risk move and put all my share on a limit sell at 3.95p and sold them. I didn't want to be out of EUA overnight and bought back in with a circa 50% top-up at 3.8p. So I'm also sitting on a paper loss right now, but I only invested money that I could afford to lose.
I'm not going to risk selling all my shares, but have put a limit sell on around 33% of them (so I keep the original amount I invested and can sell the top-up amount. People will need to pay over 3p to hit my limit sell otherwise I'm happy to hold for the long term. There is no way I would sell EUA at a loss now as the potential upside of the share is far greater than the potential downside. Even if EUA don't get a decent price for their assets in the short term, the asset is still there in the ground and they have brought in experts so they can increase production and start mining themselves at very good profit margins.