Bought USO without knowing what it is. Down 500 in a day. Do i wait it to rise to 3.5 and sale it or just eat loss. Have 4k invested in uso

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Bruh

likehelpfulfunny

Maybe stick to buying the market

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There’s a chance USO is delisted and id do everything in your power to sell at open tomorrow

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The exchange will delist a stock if it falls below a certain dollar threshold (i.e $1 or $0.50). USO is an ETF that derives it’s values off of rolling futures, the May negative oil futures you see in the news haven’t even hit the USO ETF yet.

Good news literally just came out for OP tho, the managers just updated the prospectus that they will shift some of the underlying futures contracts to July and August.

This means the managers are taking the reigns and are prepared to actively manage the ETF to keep it breathing for the next few months.

I’d still get tf out of it at open. I had Leaps that I got out of at open this morning because I realized how it could go to 0 very quickly.

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Interesting to see D1's post about how it would bounce back has disappeared now that they've announced a reverse split and are barely surviving.

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Since you buy things you have no clue about, let me sell you some xxxxxxxxxxx at a steep 60% discount

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USO is going to go back up when demand increases and supply decreases. Might take some time (a few years), but uso is at record low right now - just need to hold. What is your price per share? Assuming $3.5?

funny

Nice entry price! That was the strike price of my puts today.

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Wait how did this happen OP? Was it a mixup where you thought the ticker symbol was for another company?
Or was it based on a recommendation from family/friend/tv personality without knowing too much about it?

funny

What price did you buy that for? I believe JPOW will come to save it soon enough

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Sell ASAP. Then buy again later. Next time be more careful

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Thank you

Volume today 10x normal, you might be holding some worthless paper here in a few hours

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Jesus thank you lol

Maybe do some DD before buying a stock or ETF next time?

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Should have waited

500 out of 4K. Not bad. If your can afford to hold out then wait and turn a profit.

I bought USO too. I'm going to exit once its back in business. whatever happens in the meanwhile, we'll see. My position is less than $500, however

🤦🏿‍♂️

I would sell that cr*p and buy AMZN with what you have left.

The 8/1 reverse split scheduled for April 28th is gonna crush you. Not sure I would follow the advice I’m seeing here of holding and waiting it out. I would sell ASAP

Yeah I rescind my hold take. Sell baby sell

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