|
I was up about $60-75k in my employee purchase plan at the peak, and lost it all (about $10k out of my pocket) during the crash. I dumped all of my stock that I paid $25/share for $0.09/share right before they went bankrupt.
The worst part about it was that most people knew it was coming, but by a strange "coincidence", the day after they made the last employee stock purchase (at $25/share), the on-line system wasn't available to employees, so no one could dump their stock. By the time it came back on line the next day, the price had falled to $4/share. A lot of people (including myself) held on in the hopes that it would recover, but it never did. The most common thing you heard around the office were the optimists saying, "At least it can't fall any lower!"
Believe me - stock prices can ALWAYS fall lower!
|