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Originally Posted by tomkat
I need some advice. I hold 100 shares of stock in EDS. I've had this stock for a while. Lately, the stock price has been hovering around the $23 range. Back in the day the stock used to average between $35 and $58 per share (the highest being $72/share in 2001), but in the last few years EDS has been battling problems that made its stock plummet to as low as $9/share. Seems like now it's trying to rebound, but I don't know if it'll ever get as high as it was. Last I checked, all of my shares were worth close to $3000. Should I:
A. Hold on to the stock a while longer;
B. Sell the stock and put the money into an IRA;
C. Sell the stock and put it in one of my savings accounts (one account has 3.5% rate, the other account has 4% rate);
D. Sell the stock and pay off my credit card (the balance is currently $2400 at 0% interest until Feb 2006. I'm currently paying $50/month on the balance, so by Feb it should be down to $2250).
Your input is greatly appreciated!
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Thanks to those who've responded thus far!
I forgot to mention that I do have the money already to pay off the credit card, I'm just letting it accrue interest in my savings account until February. I'm not dependent on the potential sale of the stock to pay off the credit card, that money would just be extra money. Don't know if this info is an essential factor in determining your advice, but I'd thought I'd mention it.