It is a tempting tactic if you truly believe that the market has overreacted. Sometimes it works out, often not. My averaging down in Carillion didnāt work out too well but doing the same with Petropavlosk got me my entire capital back and I got out. Whatever you do, do so only if you can afford to lose the entirety of the investment/gamble in question. If you are encroaching or would be in life-changing territory if things go awry then do not do it.
2 Likes
Same for me, literally only coins invested a couple of weeks ago. You can say it is for the fun or a gamble, as they say.
SXX is not a serious investment at the moment, and no one should take it as such. There is a big chance of it becoming worthless and some people do not seem to realise what it means.
It means whatever you invest becomes Ā£0.00
āWhen Andrew Davies, 59, and his friend were weighing up whether to invest in Sirius six years ago, the boost to the local economy was a factor in their decision.
Fortunately, Mr Davies bought some Sirius shares when they were less than a penny and the highest he paid was 7pā
Not sure that SXX shares have been < 1p in this timescale but if true thatās some paper profit gone 
10 years ago they were under Ā£0.01, literally a pennystockā¦ 
Had to share my thoughts on Sirius - for anyone interestedā¦
4 Likes
3 Likes
Those grasping to some hope that the government will step in without their shares being wiped out in the process should see the news about Thomas Cook. If theyāre not going to save 9000 real jobs then they wonāt save 2000 imaginary ones
8 Likes
Sticking it out is simply making a bad situation worse. If your Ā£120k investment is now worth Ā£20k the only question is āwhat is the best investment I can make with my Ā£20k to achieve my goal?ā. I doubt Sirius is the answer.
1 Like
The Prospect Theory in action where crystallising a loss canāt be faced.
1 Like
Well, Thomas Cook has been dwindling away for a long time. The business model doesnāt match the current market. Sirius does have a valuable resource, itās a shame they went for such a convoluted approach.
I mean forget it being Sirius, Iād be shocked at anyone investing Ā£155K in any one stock (if this is your entire lifeās savings and youāre not a billionaire or whatever)
2 Likes
Using the 5% rule, youād need a Ā£3.1m portfolio to invest that amount in a single company and even then investing your maximum allocation in a risky company like Sirius is mad.
3 Likes
Another nasty fall today.
Sirius Minerals is still a top buy this week. Wonder if itāll make a appearance on next weekās list.
It will be top every week or till it goes under are people on here buying the odd few shares with there spare change or investing a set amount a week.I learnt my lesson with debenhams but luckily only had a small amount invested.
Unbelievable.
How are Freetrade calculating ātop buyā? If itās number of shares, then - Yeah itāll be top till it goes under or Freetrade decide to include more penny stocks.
Itās just % of users who purchased at least 1 share. Really disappointing list, I just ignore it 
hopefully theyāll add one based on total value instead of number of users
2 Likes
Can anyone explain the huge +37% today?
1 Like