hi guys this is vaguely related to banking. A friend asked me to recommend whether to hold onto to this stock or to sell it right now. But honestly I dont know anything about stocks to give a comment.
I respect this board enough that I want to ask for advice. The symbol is FSN. Fusion Telecomm.
Sell or Hold, and any particular reasons? If hold, hold till when? Thanks!
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does not work for a bank bc you cannot post advice on a msg board, so take what advice you get with a grain of salt.
of course i know that, i'm not expecting any insider information or anything. Just want to get some educated advice because i really dont know anything. thx
Wow, I don't know crap about that company besides what I'm reading on Google finance right now, but I'd say first thing is ask him why he bought it in the first place. It's dropped by 50% or more Yoy every year since it debuted in 2005. What a dumper. Income and assets are in freefall, and I dunno if you've ever heard of other fabulous VoIP providers Skype and Vonage. Yeah, the first one caused Ebay to write down a pretty fantastic amount, and the second one is probably in litigation with its initial investors over the shit-show that was it's IPO and resounding crash. If it's business model is anything like those two, there's almost zero margin to be made at present.
So yeah, this ain't a buy and hold, and probably doesn't deserve a hold either. I don't do technical analysis, so I can't tell you how it stands at present as a short-term play. My guess is he bought it somewhere on the little upswing from 0.35 to 0.95 and held right through the peak and is now looking at a pretty nasty loss. Cut the cord is my suggestion, and lesson learned is never play with penny stocks. Especially not ones without really exciting business models or technology, but even those are too dangerous to hold.
Speaking of "penny" stocks, how bout JMBA (not really a penny stock, just a small cap stock)? Every time I walk by a Jamba Juice, I think, "If I hold Jamba Juice shares now, I might be rich in 5-10 years." Their stores are always crowded, there's always a line, and they're planning on expanding their store base. They might be the next Starbucks.
And no, I don't work for a bank, nor do I work for Jamba Juice. Although it's been getting its ass kicked for the past couple days....but then, every stock's been getting its ass kicked for the past couple days.
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