i bought NASCON at 26 naira and now its less than 17.5 naira please is there hope for the stock am i doomed for it when will it bounce back again
someone tell me

Iam in your shoes too. I bought 10,000 units. Unfortunately there is nothing you can do. The problem is down to profit takers and those who are selling for cashflow reasons to join the banking band wagon. Everybody is still cooking with salt, so the fundamentals are still intact.

You will need to consign this to long-term. It will begin to bounce back a bit when the third quarter result (period ending 30/9/07) comes out. Expect full recovery in late March 2008 when the full year unaudited is released. Please note this is a long term stock, it is not something you can speculate with. If you cannot stand the heat, sell now and put your money is some of these ("voodoo", according to my neighbour) banks' shares to recoupe your loses. Especially those banks whose year end is just about approaching (Oceanic, UBA, Skye), these three are all September 07 year ends.

You guys have a few options


1. if you are really convinced that the stock will bounce back , you can buy extra units at 17 and dilute your holdings. that way, when the price gets to 22 or 25 again, you would have made profit.

2. if you are not sure about the fundamentals and you bought purely on the marketing for the sales, you can sell all or part of your holdings at the current price and invest in cheaper public offer which is at a discount. that way you will make more than your losses.

oh then you can just HOLD like a patient investor if you can keep your nerves under control and sleep well at night