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Joined: Feb 2013
Posts: 7,746
Campfire Outfitter
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OP
Campfire Outfitter
Joined: Feb 2013
Posts: 7,746 |
I have a bunch ( for me) of American Battery Technology.
Is it going under? I have really lost value in this equity.
Thanks
"Shoot low sheriff, I think he's riding a shetland!" B. Wills
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Joined: Dec 2010
Posts: 2,207
Campfire Regular
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Campfire Regular
Joined: Dec 2010
Posts: 2,207 |
If you've lost a lot of money, sell now so you can write the loss off on your taxes or use the loss to offset gains on other stock sales. If you believe the company will rebound eventually, you can buy it back in 30 days time, this to avoid what's known as a "wash sale". If you don't think the company will rebound, put the funds to better use elsewhere.
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Joined: Feb 2013
Posts: 7,746
Campfire Outfitter
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OP
Campfire Outfitter
Joined: Feb 2013
Posts: 7,746 |
"Shoot low sheriff, I think he's riding a shetland!" B. Wills
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Joined: Oct 2002
Posts: 9,997
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2002
Posts: 9,997 |
If you've lost a lot of money, sell now so you can write the loss off on your taxes or use the loss to offset gains on other stock sales. If you believe the company will rebound eually, you can buy it back in 30 days time, this to avoid what's known as a "wash sale". If you don't think the company will rebound, put the funds to better use elsewhere. Wait until the 31st day to buy back or double up and sell the higher cost basis position 31 days later. The 30 day rule is the no zone for wash sale calculations. If you do any of these on day 30 then you created a wash sale.
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