Patrick's Rants


Advanced Battery Declines

Filed under: Money,Stocks — site admin @ 7:30 am

I bought 500 shares of ABAT on 3/28. This morning the stock fell off the cliff. This is another Chinese company that is getting hammered on Seeking Alpha. I don’t know if the analysis is right or wrong. I do know that it’s hit my shares for over a 20% loss this morning. I have done OK with ABAT since I started trading it in 2009. I don’t have any problem holding this stock long term through a temporary bashing. Not sure how long this slam might last or if it will Enron on me. So far my inclination is to hold – even through the roller coaster – average my price down like I wrote about with INTC last year if it gets low enough and still looks like a decent stock (to me) and come out on the other end, a little older, a little wiser, and preferably a little wealthier.

Disclaimer: I do own shares of ABAT. I’m not suggesting that you transact in any way with ABAT – that’s on you if you do.

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