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Iraq Registrar of Companies approved the decisions of Asiacell Communications (TASC) Iraq Registrar of Companies approved the decisions of Asiacell Communications (TASC) including approving 2014 annual financial results and increasing its capital to IQD310bn through 14.8% bonus issue. -
So I am looking at my portfolio with a lot of pride. Up until today I have, through the grace of God, managed a stunning portfolio. At least this is what I was telling myself until a killjoy peeked over my spreadsheet and with a crooked smile retorted, "good morning." Asiacell! You heartbreaker who just wont go away. Okay, fine. I figure it is time I faced this issue and it is better late than never. No savvy investor should practice holding a losing stock, and I violated this rule with Asiacell. Perhaps I should have let her go a while ago in loyalty to my 3% loss rule whereas after a 3% hit, a stock must be sold for a loss. My question to investment friends is "what to do about Asiacell?" Viable Strategies (my personal consideration highlighted blue) Buy more If you were like me, you got in on this stock at its initial offering (22 points). Today the stock can most likely be purchased at just under 10. This would bring the average buy to 16 which might be a good price point if it is ever to recover. A person would have to ask themselves if they can see this stock rising to 16 points in the near future? Additionally is the handsome dividend payouts which do not appear to be lessening any time soon. I haven't experienced any other stock coming remotely close to the dividend payout of TASC. Owning more shares of TASC might equate a significant increase in yearly dividends. This option is a medium consideration for me especially if I elect to double my holdings. It is a fine time to execute a buy order as well since the stock appears to be near its bottom {nowhere to go but up}. Hold One could sit on the stock and just collect dividend checks while hoping it rebounds. Believing it will rebound however might be QUITE a stretch. A person has to first understand why it fell before they can believe why it would rebound. In my estimation, TASC fell because majority holders of it are foreign investors (75% I believe) who are very skittish about the situation in Iraq. As the security situation in Iraq improves, foreign investment will recover which could me good things for share price of TASC. This option is a weak consideration for me. I do not believe TASC will more than double its current value within any reasonable time frame especially once its competitor ZAIN comes to the bourse. TASC should probably lose market share as other telecoms become available. With AGM a ways out (December most likely) it is risky to hold through AGM and try capitalizing on any 2016 dividend payout. Sell It This is probably the most favorable decision for TASC holders seeing how its competitors are poised to come online in the near future. Even though TASC is hovering around its all time low, it might even fall further once the buzz of ZAIN fills the air. Letting go of a loser stock is tough to do because of realized losses, but a savvy investor has to know when to call it quits even when quit should have been a long time ago. This is my strongest consideration currently. I am leaning toward cutting it loose. Hopefully the dividend payout for 2015 will help recover some of my losses, but it is risky business to continue holding the stock. What are your thoughts my friends?