Koil Energy Solutions Inc. (KLNG)

[nsomniyak]

That does not make sense.

You are correct that the wash sale rule applies to losses claimed, and there is no tax consequence if you quickly rebuy a stock you sold for a gain (other than starting the one-year wait until long-term tax status again).

However, there is no reason to sell stocks to capture gains to offset losses as the losses will carry over anyway.

Anyone who was selling to lock in a gain was doing it because either
A) they thought the stock would subsequently go lower
B) they needed cash
or
C) both of the above