I have never sold a stock exactly at the break-even price but I have sold stocks slightly above it for various reasons. For example, I recently bought 200 shares of B.Riley Financial (RILY) at $16.60 per share. This purchase was quite impulsive, driven by the fact that the stock was at the top few of my watchlist in the app. In my haste, I had not done proper research about the company. As Warren Buffett once said, "Never invest in a business you cannot understand," and his advice echoed in my mind.
The only thing I knew about B.Riley Financial was that it is a bank. Beyond that, I had no substantial knowledge of its operations, financial health or market position. This lack of understanding made me uncomfortable. Reflecting on my impulsive decision, I realised the risk of holding a stock I knew so little about. Therefore, I decided to sell the stock at $16.65 on the same day, making a very small profit.
Although the stock price rose above $16.65 later that day, I have no regrets about my decision. The small profit I made is less important to me than the peace of mind I gained by adhering to a principle of informed investing. Selling the stock reminded me of the importance of thoroughly researching and understanding a company before investing in it.
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