This was a big week for my portfolio. Cryptocurrencies plunged on Monday and my Fitbit stock disappeared.
At the beginning of the week, Bitcoin plunged and took down the entire bitcoin market with it. Instead of $98 worth of cryptos on Saturday, I had about $75 on Tuesday. It has since bounced back up.
As for stocks, my Fitbit stock literally disappeared. As a Fitbit user, I received an email from the company on Thursday saying that Google bought them and the deal was official. ON my screen, the ticker symbol was removed and my “buying power” increased to $28.75. I did not receive any notice from Robinhood which is a little shocking since there is not actual record of the event. Google paid out the stock in cash. I bought my $25 worth at $6.97 a share for 3.589375 shares. So it looks like I was paid $26.38 for the stock. A profit of $1.38. Not much though.
The lesson here is that I should have research the company before I purchased it. I would have seen that Google announced in 2019 that they were going to buy the company. There’s typically some price volatility with major announcements but then the price settles. I would not have bought the stock because I would have thought the the price would not go up much. It didn’t.
Overall, this week we are down slightly from last week but overall returns of over 12%.
With my $28.45 buying power, I will research some stocks during the week.
Join us next week as we see if the market moves due to the change in Presidents.
Disclaimer: This for entertainment purposes only. I am not a licensed financial analyst or financial planner or tax advisor or lawyer. It is up to you to research each stock and perform your own due diligence and research. Nothing in the video or statements should be regarded as financial advice. You should always speak to a licensed professional regarding your own personal situation.