Fix My Portfolio: ‘I was given 90 days to decide, but no one knows the answer’: Should you buy stock in the company that just laid you off or let your options expire worthless?

by | Nov 22, 2022 | Stock Market

Dear Fix My Portfolio,  I was laid off from a tech company recently, just before the latest big wave. I was given 90 days to decide what to do about my stock options, so I have just a short time to decide. I’ve been hunting for a job. I still have three months’ runway in the bank, and I’ve got freelance income that will come in soon, so I’m not panicking. 

My options are priced at almost $1 per share, and the company is now valued at around $9, but it’s a private company so I’d have to wait until it goes public to make any money. The company seems like a good bet, but I’m worried about taking on a tax burden by exercising my options.  I’ve spoken to other folks at similar companies who had stock, went public, tanked hard, and they got screwed. I’ve spoken with a tax attorney, and two financial advisers, and still no one knows the answer. What should I do?  Signed,  B2B Seeker Dear B2B Seeker,  You’ve joined a growing crowd of those laid off from big tech, along with thousands from Twitter, Amazon

Article Attribution | Read More at Article Source

Share This