Never in my 33 years trading have I held onto a stock with a better than 50% loss or is it more than 60% after I did my last average down, probably like 75%. But in 2 accounts I will hold these shares with this kind of loss as a reminder every day that I'm a trader, not a buy and hold investor. I did trade the stock as a SPAC, but the gains nowhere equal's the loss.
This is just my statement to others in general:
Follow the crowed, momo, fomo and the in the money stocks of the month, but only as a trade especially if they are not the company that can totally differentiate themselves from the others players in the game.
PSFE is only a fintech and one of too many that will likely be the looser as the bigger players will lower their fees/charges. Maybe we get bought up or merge more companies into our system taken on endless debt. No matter what this really is an overseas under established player with extreme competition inside the U.S. and abroad.
Some remarks on this thread whether, long or short are now are feasible. Delisting, reverse split on and on as too many in the money players advised this as the gambling fintech play to have and hold big time. But they are not in the play as they played us or lost themselves too.
I could write a book on PSFE but it`s better to keep in my acct. as a lesson learned and I knew better. GLTA again who will hold out for the conclusion of the Paysafe story or just sell for the tax loss then not look back and move on.
