Regrets, I've had a few.
Here at The Motley Fool, we urge investors to stay invested through thick and thin.
But unfortunately, I am currently licking my wounds after selling out of an ASX stock and then seeing it rocket immediately afterwards.
Let's take a look at what happened:
Image source: Getty Images
What I did
Cettire Ltd (ASX: CTT) is a luxury fashion retail platform whose shares I held last year.
All the economic uncertainty had not done its share price any favours. It seemed $10,000 handbags would not be at the top of mind for consumers battling multiple interest rate rises.
The company has also had its battles against expensive fashion brands, whose exclusivity relied somewhat on not being so accessible online.
But in the second half of last year, against all odds, the Cettire share price soared from a 1 July low of 38 cents to a whopping $1 by mid-September.
At that point, I thought 163% was a pretty good rally.
Don't be greedy. Let's sell out.
So I did.
What I should have done
But since I sold last September, Cettire shares have gone from strength to strength.
The stock closed Thursday at $3.07.
That makes it a spectacular 207% climb since I exited!
It seems the company is wowing investors with its growth. Cettire's annual report last week showed sales revenue doubling for the 2023 financial year, delivered margin up 156%, and a cash stockpile of $46.3 million with no debt.
"Cettire is a highly nimble business, with a largely flexible cost base," said founder and chief executive Dean Mintz at the time.
"Through strong execution against our strategy to maximise profitable revenue growth, Cettire grew rapidly whilst also delivering significant profitability and cash generation."
After a whopping 12.1% rise in a single day after the results announcement, Mintz sold $100 million of his shares that night.
Now that's how you sell.
