Sell high buy low. There is nothing wrong with what you did (base on what you hope).
Hindsight will tell if you made the right decision.
Wall Street is base on investors who trade (Long or short term). Mutual fund owners trade (short term) even they think they were there for long term.
With that being said, decision for sell or buy should always be based on subjective view of upside or downside potential in a long run.
With that being said, I subjectively believe upside is >$5 based on Nasdaq goal.
Conversely, downside is Liquidation value.
In pure tangible view:
LV = MC - EV + IPV
LV=liquidation value
MC = market cap
EV = enterprise value
IPV = Intellectual property value
MC and EV is published data while IPV is somewhat subjective.
For now, I would assign LV to be 0.16 base on Li purchase price. I welcome others to submit their own subjective LV.
Put it all together for tangible side. I subjectively believe long term (5 years) upside is >$5 while long term (5 years) downside is >$0.16.
On intangible side, there is Apple, Lugee Li, Liquidmetal brand, cult factor. I will let the dreamer assign those value.
Sorry this long post have nothing to do with “short term” investment.