I guess it finally had to come to a point where i would take some losses. JAVA did a reverse split (4 to 1) of there stock a couple days a go, and i was hoping that by doing that the price would go up.. well yes, and no.. Before the split JAVA stock was at $5.50 (or so) after the split it was worth $20.00. Looking at the numbers alone you would think wow thats quite a jump, but not really. i had 500 shares, at $5.50, now after the split i have 125 shares at $20.00 calculate that out and i lost $250. Ouch! but it doesnt stop there, I figured it might take a little hit, and then go back up but it did the exact opposite, it went up a little bit, and then way down. JAVA stock went up to about $21.00 which was great, and i should ha I planve sold, buti got greedy and held on to it, now today its at $19.44. so I still lost even more money… but being that its Sun MicroSystem, I plan on holding on to this stock, hopefully it will go back up.
I mean it has to, with all the changes they have made, from changing their stock symbol to JAVA (from SUNW). Their new server distribution partnership with Dell. By the way for those of you who dont know, Dell makes excellent servers, one of the best, if not the best around. Sun Microsystems has the Java language which is taking off with great popularity, and (in my opinion) a fairly easy language to learn. Sun also has Solaris.
Im sure that if i just give it time, it will go back up. I will check back up on it when i get out of bootcamp, and if it has continued to go down, i guess i will have no choice but to sell it.
On another note though, it looks like the stockmarket in general is down, i fear it may continue to go down further/again.
All the tech stocks seem to be down and suffering. Hopefully things will go back up soon.