The author cleaned up their stocks and shares portfolio, getting rid of a lot of penny stocks that were added during the bull market. However, they still hold onto a wild card – an electric vehicle company called Fisker. Despite the risk involved, the author has confidence in the company and its founder who had previously worked at Tesla.
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Why I Cleaned Up My Stocks and Shares Portfolio
Investing in stocks and shares can be quite a profitable venture, but it requires a lot of strategy and planning. When I initially started investing in the stock market, I made the mistake of investing in a lot of penny stocks and speculative companies. During the bull market period, almost every stock was performing well, so it was easy to think that I was making smart investment decisions. However, as the market started to dip, I began to realize that my portfolio had a lot of crap that was unlikely to recover.
Cleaning Up My Stocks and Shares Portfolio
I decided to clean up my portfolio and focus on more worthwhile investments. I came to the conclusion that investing in penny stocks and speculative companies was a gamble that was unlikely to pay off in the long run. Therefore, I sold my holdings in these types of stocks and used the funds to invest in more established companies that had a proven track record.
Still Holding On to One Speculative Stock
Despite cleaning up my portfolio, I still hold one speculative stock, which is the Fisker electric vehicle company. The company is a wild card, and I am well aware of the risks involved. However, I chose to hold on to this stock because of my belief in Henrik Fisker, the company’s founder. He used to work at Tesla, and although his first venture failed, I still believe in his ability to create successful products.
Why I Like Fisker Electric Vehicle Company
There are several things that I appreciate about Fisker electric vehicle company. Firstly, the company is focused on creating environmentally friendly vehicles, and I believe that this is a growing market. Secondly, Henrik Fisker has a reputation for designing stunning cars that are both stylish and functional. Lastly, the company has recently announced plans to merge with a special purpose acquisition company (SPAC), which could result in significant growth potential.
In conclusion, while it’s crucial to invest in stocks and shares, it’s even more crucial to invest wisely. I learned this lesson the hard way with a portfolio full of penny stocks and speculations. However, by cleaning up my portfolio and focusing on more established companies, I am now on the right track. Although I still hold one speculative stock, the Fisker electric vehicle company, I do so with the hope that it will perform well in the long run.
