DO NOT Do as Kerkorian: Buy High, Sell Low
OK, this is a classic case of what NOT to do. Mr. K bought F at its peak, hoping to gain control of a high flying stock in double digits. Now, that F is facing possible bankruptcy, he is selling F for less than the price of a Big Mac. Granted: he had other motives not related to daily quoted stock price. Still: he lost almost all of the money he invested. Is this smart? OK, he is a gazillionaire and I am just a working class stiff. Still: even I know that F is so dang cheap, the time to make a major buy or action to take over the company is NOW, and it won’t cost an arm and a leg, as it would have a year ago, so the risk even if you fail miserably, relatively speaking, is low.
If you have F (OK, I am one), sit tight. If you want a bargain, buy. Do NOT dump all of your F if you have them.