I agree with your decision. I call these beaten up stocks "Phoenix stocks", see my SA article: seekingalpha.com/artic...
This kind of recovery is not without precedence. Recall that Chrysler went from $2 to over $30 in the 1982-3 recovery. Magna International went from under $2 to over $80 in 1990-2.
Reconsidering Penny Stocks [View article]
This kind of recovery is not without precedence. Recall that Chrysler went from $2 to over $30 in the 1982-3 recovery. Magna International went from under $2 to over $80 in 1990-2.