I kept buying the same stock for years because it felt safe

For almost a decade, I just kept putting money into my company's stock plan without thinking, because it had always gone up. Then, back in 2021, I saw the price drop 30% in a single quarter after a bad earnings report from our main plant in Ohio. That was the moment I realized I had way too much tied up in one place. Anyone else get burned by not spreading their investments around?

3 comments

3 Comments

kimr1011d ago

Oh man, my buddy did the same thing with his tech company stock. He had over half his savings in it and lost a ton when their big project failed. It really taught him about putting all your eggs in one basket.

jana_fox5021d ago

Wait, you only realized it after a 30% drop? What made you finally look at it?

holly71321d ago

Checked my portfolio for the first time in months because a friend asked for stock advice. Saw the huge drop and felt like an idiot for ignoring it. Used to believe in just setting and forgetting, but this showed me that sometimes you need to pay attention. Now I check things at least once a week.