I decided to exercise the rights I received in TUI, for each right you could buy 8 new stock for EUR 5.5 each. While TUI has been one of my worst investments ever I still think they can turn around and start to pay out dividends again in the future. I know that a common mantra is that you should buy more of your winners and sell your losers however.
With the proceeds from the rights they are going to pay off a part of all the large debt they had to put on during the pandemic. I think that this will give them some room to start a comeback over the next years. I always seem to manage to invest too early in turnaround cases. This happened for me in VW and Danske Bank as well, I was down on those investments the first couple of years. If I ever manage to turn this investment positive is a tough question as I am down close to 50%. Over a 10 year period I believe I will be though.
Number of shares bought: 264
Price: EUR 5.5
Effect on yearly dividend: +SEK 0.00
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