BLNX was my first best ever trading experience.
Nothing perks ones interest in stocks and shares when you hear others around you making money. Even worse is when one works in a finance company and everyone around you has a portfolio and you don’t. In fact it is damn right embarrassing when someone asks you how your portfolio is going? Huh! what portfolio?…. Okay moving on.
So I started to read up on stocks and shares, but to be honest I didn’t have a clue where to start. There were a few guys in the office that were trading AIM shares and always willing to offer tips or advice, but I was hesitant as I didn’t want to lose my money for the fun of it. One day a colleague of mine asked me about a company called BlinkX (LON:BLNX). At the time BlinkX did video indexing and had a patent or two for some fancy technology they were using on the videos they were indexing. Back then video was just taking off on-line especially on websites such as Youtube. I remember looking at the share price and it was trading around 60p and I told me colleague I was going to invest £100 in BLNX. He told me to wait until the share price dropped back down to 50p-55p as I had missed the boat. I went back home and read everything there was on BlinkX and I was convinced they were onto something big and the chances of the price going down was slim.
From the outset it was a great share to be invested in. I bought when I could afford it and sold when it was peaking. I quickly made a profit and reinvested it back into BLNX. When my colleague told me to sell I would hold on for a little longer before selling some for a bigger profit and it worked out brilliantly.
A year later I was headed to Spain to walk part of the Camino with my Mom and I knew it would be difficult to keep an eye on my shares while I was away, so on the 16th of September 2011, I sold everything for 153.15p, a few pennies short of BLNX highest price. It was an excellent end and I made a tidy profit. It closed on 152p that day. The price briefly rose a few days later to a record high of 156p before going into a free fall. It was a great time to be out of BLNX. 🙂
When the dust settled in April 2012 I got back into BLNX at a price cheaper than when I first bought them (46.20p). The fundamentals were there, people on the LSE.co.uk forum were all bullish and confident and I believed BLNX could reach those record highs again. It took a while to rise, but when it did, it was worth the wait because in mid 2013 it took off in a big way. It was awesome being in BLNX again. 🙂
At 189p I sold everything having made almost four times my original investment. At the time of selling It was my best investment ever. The share price carried on and recorded a high of 234.75p before crashing in a spectacular way by no fault of its own. (DYOR). BLNX is currently trading at 102.06p 🙁 but when it has found its bottom I will be buying back in.
I never did get back into BlinkX. They were shorted by so many people and eventually the company went bust or changed names or something. A shame, but a great stock to learn the ropes in.
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We are Mike and Jo Bowen. Originally from South Africa, we now live & work in the United Kingdom. Mike is the blogger, beer drinker, gadget man, reviewer and Jo is the proofreader, wine drinker, cat lady, sanity checker and “don’t you dare put that on lookatbowen.com“. Together we travel the world and have fun wherever possible. If you are new to this website and want to know more about us, check out the the longer version.
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