Excerpt from a May 27, 2023 YouTube video by Ramit Sethi. The speakers discuss holding DraftKings stock despite an unrealized loss of about $80,000–$90,000; the stock has recently risen. They set a target loss (stop) at $40 per share and report the current price in the excerpt as $18.35.
About $80,000–$90,000.
$40 per share.
$18.35.
May 27, 2023.
Any other updates on the financial side?
Yes, we never sold the stock either.
Oh God.
The gambling stock.
So we haven't sold draftkings? The one that we lost like 80 or 90,000 on?
Yeah, how could I forget? So you kept it and how's it doing?
But it's going up actually.
Oh God. So what is the lesson that you take away from this? I always love when people take away the absolute worst lesson.
Just wait it out.
Buy a super risky gambling stock and then like you'll probably make a ton of money. That's a good lesson to take away.
I've learned my lesson with this. I guess part of me does not want to let go yet. We've set a target loss price so basically once it reaches that target loss, I will take the money out.
What is the target loss?
$40 a shares.
And what is it at right now?
It's at 18:35.
Okay. So it only needs to more than double.
