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.