Earlier this morning, I panicked after logging in to my BPITrade online trading account because one of my holdings, Philex Mining Corporation (Stock Code: PX) was trading at only P7.50 per share.
You can’t blame me. Only yesterday, the stock was trading at P9.40 and a P7.50 market price means a steep one-day decline of 20% (read: WTF! I’m losing a lot of money in just one day!).
My PX shares at P8.80
At P7.50, I stand to lose money because I originally bought PX shares at P8.80.
I scoured local news websites for any update on what caused Philex’s price to drop. I found nothing. Is this the end of my trading account? Should I just accept the fact that I lost a lot of money in this stock?