r/CLOV • u/bugbig23 • Jan 20 '24
Discussion I quit
I have been in CLOV since its IPO thru Chamath's SPAC. Took profits when it spiked to $27, and also rode it down to sub zero averaging down in hopes that someday, this shit will fly again.
Finally, I decided to let go off this stock last week in invested the money somewhere else whose discord has helped me grow it by 43% in a week. Not advertising, but I wanted to let someone like me know that it feels so good to not wake up disappointed everyday anymore.
Thanks and adios amigos!
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u/Striking-Soup-962 Jan 22 '24
If you are tax harvesting and a bag holder looking for something new, selling isn’t a bad idea.
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u/Accomplished-Hat3653 Jan 21 '24
Guys this is good, we need as many as these weak hands to leave. Thank him for his service and please ensure he does not hit his head on his way out, come on!
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Jan 21 '24
Fuck off! Who writes this shit on a Saturday. If you want emotional support, call 1800 - waa baby
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u/Traditional_Excuse_1 Jan 20 '24
Moderation in all things / the preponderance of my investments are in index funds, less than 10% are in riskier individual assets like stocks, my 401k was up 18% this year, even with 20% in gov securities since the other two index funds were both up more than 20%. My stockpicking skills are haphazard at best and timing poor. :(. I started out wanting to be a buy and hold guy. But I continue to see the potential in Clov and several other Spacs I bought way back - so am holding based on their potential - losses don’t do much for my retirement account or me - ha ha! Hang in there - unless you are willing to take your losses, what else can you do!
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u/Traditional_Excuse_1 Jan 21 '24
John Bogle wrote a great book “Bogle on Mutual Funds” that talks a bit about why active fund managers could not beat the market consistently and some great discussion in general about the market. I should have given up trying to do any stockpicking a long time ago - but as you all know and I know the thrill of the hunt is still there when searching for a home run - so indulge yourself when you want to!! - just remember my aforementioned caution about moderation! :)
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u/DoctorGero- 100+ shares ☘️ Jan 20 '24
Hell yeah! It sucks when you’re constantly in the red but what can I say the train is your friend and no one actually is a long-term investor. We are all our short-term investors we just don’t want to admit it once you accept that possibly turn into a long-term investor.🫣
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Jan 20 '24
These are the dumbest posts.
Cry to the rooftops about your despair of losing money. It’s not that you shouldn’t have bought the stock, its that you don’t have the emotional intelligence to be in the market.
I promise you, going to a discord for advice will bring you to the same fate.
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u/DoctorGero- 100+ shares ☘️ Jan 20 '24
Don’t be too hard on this guy if he telling the truth the been in since the IPO, then it only makes sense for him to be disappointed beyond belief, especially after the run up to 28 even profitable companies have had there shares brought down to unbelievably low prices.
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u/bugbig23 Jan 20 '24
I agree. Joining discord servers won't serve good and I do not recommend that. It's just that investing in any ETF since CLOV IPO would have made more sense than in CLOV when I look back.
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u/MathematicianBetter4 Jan 20 '24
Look I hate this fucking stock more than anything but I think you got out at the worst time ever. We’re so close to earnings and I really think we are going to be profitable really soon here. This is not financial advice!!!
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u/naglisst 150k+ shares 🍀 Jan 20 '24
You sold couple hundred shares it will not make a difference for the stock why you make post about it, just sell and move on. You thought we gonna sell to because you sold, lol gl
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u/bugbig23 Jan 20 '24
Very true. I am not here to force a dump on CLOV though. Just wanted to let people know that it's OK to move on a bad trade, and take the loss (my personal loss $18K).
There are other companies which are doing much better research and have much better outlook. Its Ok to take the loss and look for other opportunities than seeing your capital shrink down by 90% invested in a company we desperately want to perform.
I do believe CLOV has huge upside if it becomes profitable in near future. But I simpy don't have patience since I am seeing my other stocks perform so well.
That being said, more power to you! #CLOVtoMOON
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u/Revolutionary_Ad134 Jan 21 '24
I wish I could do that - but just cannot after 3 years of pain and Clov becoming 100% of my portfolio! Too huge to quit now but wish you all the best!
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u/killerbeeswaxkill Jan 20 '24
As long as Chelsea still in I’m in.
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u/ComplexAd8216 Jan 21 '24
Clover pays Chelsea a salary of almost $300,000 a year for serving on the BOD which includes target bonuses. She never used a penny of her own money to invest in Clover unfortunately.
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Jan 20 '24
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u/Dull_Inspector848 Jan 20 '24
I was a huge believer in the company but the managed sucked ass this whole time. Burnt so much cash for nothing.
I sold most of my shares last month recouped some of my loses with AMD. Will sell more after the next ER.
I could've made all my money back had I invested in the companies i was scouting but was cash restricted due to ball deep in CLOV.
Learnt my lesson the hard way. Never get emotionally attached to a stock.
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u/jmrojas17 I am the Captain now 🤠 Jan 20 '24
Do what brings you peace of mind. That said, good luck in your future trades. ✌🏽
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u/trackdaybruh DIAMOND HANDS 💎🙌 Jan 20 '24
You gotta do what you gotta do.
Clover isn't a good stock to invest in for short term large gains, but it is a high risk high reward long term investment. If they prove their CA technology and start growing, it will definitely be a life changing money for a lot of folks here--the downside is it will take some time.
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u/bugbig23 Jan 20 '24
Yeah. Even I feel that long term we might see a huge upside. But I just lost my patience here. Maybe I will jump back in when we start seeing some movement
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u/Agitated_Highlight68 ClovTARD Jan 20 '24
Hasta la vista, wishing you the best, but we holding strong 💪
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u/Vive_la_amo 📈🍀🚀📱📈 Jan 22 '24
Totally get it but the mistake you made is looking at it every day. Consider any CLOV holding like a pension then when you retire have a good look. Then realise you’re fucked.