Even stories like this need to be told. After 4 years, I am now finished with $PARAA (+0 %) and I will probably sell this week. The reason is that there will be a takeover bid of USD 23 by tomorrow's deadline. However, I will not accept this, but will sell via the secondary market at around USD 22.5 for the sake of speed. I will also not take the opportunity to swap the shares for shares in the new company.
Unfortunately, this is a very unsatisfactory situation for me. I had planned the sale for a long time and speculated on a sale price of at least USD 24 so that I would not have to realize any further losses.
The 100 shares will therefore be sold again at 5% below the buy-in. Added to this are trading fees of €12 and taxes of around €20. The losses can therefore not be compensated by the net dividends of €73, so that the bottom line is that the loss pot is once again in the red.
Overall, this process is extremely unsatisfactory, having to part with a long-term buy-and-hold position and at a loss. But this is also part of the process and must therefore be addressed. A small consolation is that there are at least plenty of opportunities on the market at the moment to re-invest the capital that has been freed up.
Compared to the size of the portfolio, the losses are only minimal. And they are in no way comparable to the de facto total losses of shares that are either down 90% or are currently untradeable for stupid reasons. Nevertheless, the disappointment is severe when you buy a supposedly solid and high-dividend stock only to have it outperform your savings account and even your cash.