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1 of 8) CASE STUDY: $STNE StoneCo Ltd.
A stock I have believed in for two full years but got completely wrong due to a lack of #patience
It's been an up and down ride but I lacked #conviction
We all make mistakes, no matter how long we do this.
#MentalMistakes
A stock I have believed in for two full years but got completely wrong due to a lack of #patience
It's been an up and down ride but I lacked #conviction
We all make mistakes, no matter how long we do this.
#MentalMistakes
2) My first $STNE buy was excellent in early 2019 at $21.34.
Here's what I said in the tweet and the 2019 Stocks to Watch...
Here's what I said in the tweet and the 2019 Stocks to Watch...
3) I made a 2nd buy of $STNE 71% higher than my initial purchase as my conviction was growing.
It helped that Warren Buffett was a large shareholder.
It helped that Warren Buffett was a large shareholder.
4) Following a less than stellar earnings, the stock started a quick 45% drawdown so I decided to sell the $STNE shares I bought in April.
5) With further downside pressure, I decided to sell the remaining $STNE position and take my gains before they turned into a loss.
In hindsight, I lost the conviction I wrote about in January.
Not enough patience - also a mistake in hindsight.
In hindsight, I lost the conviction I wrote about in January.
Not enough patience - also a mistake in hindsight.
6) The stock gathered itself over the next two months so I jumped back in, in August at $34.95, 31% higher than my previous sell.
I admitted that I made a mistake with $STNE and paid up to get back in. Don't stay wrong.
Lesson learned - or so I thought...
I admitted that I made a mistake with $STNE and paid up to get back in. Don't stay wrong.
Lesson learned - or so I thought...
7) $STNE slowly trended back up and traded above $45 on three occasions but struggled to go any higher, the same resistance it hit in March 2019.
2020: COVID hits, market falls & Brazil cases start to mount so I sold it all, for a loss.
Looking back, not far from the low.
2020: COVID hits, market falls & Brazil cases start to mount so I sold it all, for a loss.
Looking back, not far from the low.
