This week I was able to sell off my Netflix stock. I had talked about this as one of my goals for my MITCH mission this week. I bought my first share of Netflix around it's 52 week high. I didn't do a ton of research on the price of Netflix before buying it, I just knew there was a lot of momentum behind it. The most recent market correction brought the price of Netflix (NFLX) stock down below $100/share. I ended up having to buy 2 more shares to cost-average down to sell all of the shares off for a couple dimes' worth of positive return.
I think Netflix is a great service, and I would be optimistic about owning this stock for the long term. But it is mostly due to the huge drop in price for Netflix that made me realize I don't want to invest in potential high growth stocks right now. I realize you don't actually lose any money until you sell a stock, but I would just rather invest in dividend stocks right now.
I was a little worried about completing this mission because I ultimately can't decide what price a stock trades at. I ultimately had little control of completing this mission, but I knew I needed to keep it on my radar and watch for a good time to sell. I set the sell point as a limit order, but wasn't expecting the order to go through, and was very surprised when I got the notification from Robinhood that the order did go through. I am looking forward to taking the money I had in NFLX stock and buying new dividend stocks next week.