Today was a rough day in the market.
Overall, the averages were down, because the US and China are not as close to a trade deal as we thought.
Then there was Sangamo Therapeutics (NASDAQ: SGMO), which I posted about yesterday. Sangamo was down 30% today.
The company is working on a cutting edge technology called gene editing. Although, as I said yesterday, they are the only company in the US that has successfully edited a gene in a human, in reporting their trial results today they did not prove unequivocally that there was a significant medical benefit.
As a result the stock was punished…pushing my loss to 67%. Yes, you read that right.
Sangamo still has about seven additional opportunities to redeem itself. But there are no guarantees.
And I knew that going in. I wrote a piece on speculative investments recently, of which Sangamo is one. These kinds of investments are not for those with weak stomachs.
You should start out investing in successful companies before you graduate to a speculative stock.
I will keep you posted on Sangamo as the year goes on.
Disclaimer/Disclosure Statement: Information in this article is not intended to be a recommendation to invest in any stock. Rather, it is presented for readers’ education and consideration when making their own investment decisions. The author is long SGMO.
My book, The Stock Market is For Everyone, is a short guide for the beginning, inexperienced investor that is easy to understand and can be put into action immediately.
Click here to be taken to its Amazon page.
(Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)
