Sold my first stock!

I sold my first stock today! I held some of my company’s shares from a grant I received and I’ve been debating at what point to sell once it was a long-term holding.

Let me just say that holding shares of your company’s stock is really annoying. There are so many restrictions over when and how I can sell that I finally gave in and sold the shares today. It was actually incredibly easy.

I set a stop limit order that would expire at the end of the day. I used a dollar amount slightly higher than what it was trading at this morning. It hadn’t hit that amount when it got close to the end of the market’s day, so I edited the stop limit order to a slightly lower amount and the order went through instantly, which both confused and surprised me. I then switched back to the tab with the stock chart open and noticed that the stock price had spiked up past my second stop limit order price while I was editing the order.

My eventual plan is to move these funds into VFINX (Vanguard S&P 500 Index Fund) in my taxable account at Vanguard, but they will most likely first be used to increase my down payment the property purchase.

Taxable investments is the first “savings bucket” on my list to be re-paid with my January bonus, so this amount will be replaced in January.

Advertisements

4 thoughts on “Sold my first stock!

  1. About the sell on stop, I once fell in the same trap, I set a sell on stop and then the stock touched my threshold for a second and then rebounded. I have written about it here: Sell on stop: A dangerous game.

    I’m sure you’d be able to relate. Sell on stop is not a bad thing, but it should be used with caution.

    • Thanks for the warning, Fadi! This was my only stock holding and I don’t plan to purchase individual stocks in the future, so I don’t think I will have this problem again.

      I wasn’t trying to get the highest possible gain out of the order because with the small number of shares I held, that would have +/- netted me well under a $100 difference, which wasn’t worth any headaches.

    • I’m clearly biased and think that it’s going to continue to do well, but the main reason I wanted out (and the reason why I ultimately sold my shares) was that there are a ton of restrictions on when I can and cannot sell and for the small number of shares I was comfortable holding in my portfolio, that simply isn’t worth it. I think that I’m going to keep the shares that my employer matches my 401(k) contributions with, but I don’t want to hold any of its shares in my taxable account.

Comments are closed.