Today i want to write about whats possibly my worst investment ever.
On February 14, I bought some shares in one American company that you probably have heard of. The company is called Macy’s. I bought this stock just before the stock market crash.
I bought Macy’s for $ 16.78 a. share. The stock was already down YTD when I bought it, with no thought of everything that has happened over the last month I bought in without any worries. But which company is Macys really? Macys was founded as early as 1858. The company is perhaps best known for Bloomingdales.
But this investment has not exactly gone my way so far. After I bought the shares for $ 16.78 per share. Then the market value has dropped to $ 4.80 per share. This means my investment is down a staggering -68.59%! This is by far my worst investment if you look at the decline in market value.
Not only has the market value gone down, but Macy’s has also decided to cut dividends for a period of time. At least, I received a small dividend for Q1 if nothing else. When Macy’s paying dividends again is not known, considering the current situation we are in.
Right now, the world economy is in shutdown mode. No one goes to the malls and this affects Macy’s. Will Macy’s survive this period? At least I’ve decided to keep my shares in Macy’s and hope for an upturn. I’m not willing to buy any more stock at Macys when their future is so uncertain. But for someone with a high risk tolerance, it might be worth taking a look at the company to consider Buying at the current low price.
Thats all i had for this time, thank you for taking the time to read!