JRCC is a legitimate operating company. However, it has declared bankruptcy. In the vast majority of bankruptcy cases, the stock becomes worthless.
I do not understand your objection to mutual funds. Please reconsider. It makes a lot of sense for a novice investor to start with an index fund from Vanguard or Fidelity. Take your time to understand markets and then add individual stocks to the mix.
I also suggest that you invest long term rather than trade short term. Let the long term growth of the economy be your friend instead of trying to out-smart folks whose skills and experience vastly exceed your own.
Forget what your hopes were for this stock. Forget the price you bought it at. You can't change the past and you can't get back the money you've spent. Right now you have $320 and you need to decide the best place to invest it.
Now that you have done the research, do you think the company is worthless or do you think it has been oversold? Is 0.32 a good price to buy or to sell this stock?
Take your loss....it ain't coming back!
Investing in coal stocks right now expecting them to "come back" is a bit like investing in a company that writes software exclusively for Windows 95...
Penny stocks, lottery tickets and flushing money down the toilet all have exactly the same result for most people.
With penny stocks you will eventually lose all you put into play.
"Invest" like Warren Buffett. Buy (high) quality and hold for decades (e.g. JNJ, XOM, KO, PG)
Sell. Something is better than nothing
As young investor I made the mistake of purchasing this stock at the wrong time. I invested in this stock last year in like June and bought 800 shares of the company @ 2.20 and turned around sold them yet that september for 2.35. I then thought I saw a window and didn't do my research and bought 1000 shares at 2.00 with the intention of a short term investment much like my first trade. Of course this didn't work out and I did not sell it because the stock now has a downward trend over the course of the couple months. It has slid down to .32 cents. Should I double down on the bad trade because I think I'm going to hold out to break even or should i sell? What do you guys recommend?
I'm really new to trading and didn't want to invest in all mutual funds so I'm open to suggestions.
