Or be a man and most likely go down with the ship? Let me explain.
Years ago I bought stock in ParkerVision, PRKR (OCTMKTS), a communication device company that had sued semiconductor giant Qualcomm, QCOM (NASDAQ), for patent infringement. Who doesn’t love a David vs. Goliath story? The suit was from 2011 and I believe I paid (working from memory here) about $5.00 a share. I took a chance rolling the cruel stock market dice. Unfortunately for me I rolled snake eyes on the opening roll and went bust. ParkerVision lost and my stock, at one point, was as low as ten cents a share.
As one of the dumbest investors in recorded history, known as the anti-Buffett, I bought more cheap shares, increasing my potential loss but also bringing my cost per share down to fifty cents. I only need the stock to rise about 500% to break even. Fast forward to September of this year and the Appellate Court reversed the decision against ParkerVision and sent the case back to the lower court to go to trial. The stock shot up as high as $1.10 and closed Friday at 90 cents a share. I can sell my shares and actually realize a small profit, attaining a rare win from the cruel and unusual stock market!
OR…
I can roll the dice once again and hope that David finds just the right pebble, gets a shiny new slingshot and puts it right between the eyes of Goliath, emerging victorious. If that happens I’ll sail into New York Harbor on the Titanic in a first class cabin! But if ParkerVision loses again it’s down into the ice cold depths of the ocean floor.
Ignore the mixed metaphor (Good writing is hard work), and join me on deck of the listing ship. Let’s hope Qualcomm is sick of 13 years of litigation and throws a life preserver to us minor players treading water in the ice cold Atlantic!
Yeah, I’m going all in! No dress for me! (Linda said “No” to me getting my legs waxed). I’m a man! You’re goin’ down Qualcomm! (Please…this is only petty cash to you. You’re just being a big meanie!)