I bought Broadcom (BRCM) when it hit a 52-week low of 28.75 in Nov 2007. The company had also announced a stock buy-back program. I was very tempted and bought the shares of BRCM for $1000. The stock touched a new 52-week low of 25.78 in the next 6 weeks. I lost more than 10% in 6 weeks. It was a lesson well learnt. I didn't do a proper research on the company. The market ratings were hold & avoid for BRCM :)
I am eagerly waiting to take my money back. Hopefully, the stock will break-even soon. You should never just use "52-week low" as the ONLY metric to buy a stock.
Saro's R2I Blog covers Return to India (R2I) topics such as R2I planning, R2I checklist, R2I Jobs, R2I Salaries, R2I Schools and Post R2I life experiences in India
Friday, January 4, 2008
52-week low doesn't mean a BUY
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