Wednesday, October 03, 2018 8:24:39 PM
Also remembering that if we don't keep our purchases for at least a year there is the Capital Gains Tax of 19% and the transaction fees associated with buying the stock. Now if you are like me you bought as many shares as you could, however even though I have often suggested you lock up your shares to avoid short sellers borrowing your shares, the remaining question is at what price is reasonable in order to profit and clear your expense? That may sound an easy answer until you think as the share price rises so will the ability to sell large numbers of stock. If you have 25000 shares it is very unlikely you will sell them in one transaction, in fact it will probably take a number of attempts which will also result in a Broker fee for each sale. I think for everyone to cover their costs LEX needs to be trading at least $3-00 per share. But lets not forget you will have competition as everyone else will also be trying to sell.
As I said before, if you can manage to sell some of your shares to cover your expenses and keep the remainder for the future you will probably have a winner and a healthy Brokerage account / Bank balance.
Also look at it this way if you sell just enough shares to cover all your costs the remaining shares are freebies and there value is a gift...
Have a great day be lucky..
PS: Jamie, I could be wrong but I think the SP is not far off it lowest and now is the time to think about increasing your portfolio.
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