It sounds like a plan. However, the bottom line is you were unhedged in an area were you believed that you have an expertise. Do you have the background in biotech to discern fluff and puffery in a press release on a drug stock? you should honestly answer this question.
What about investing in S&P500 index for the next 20 years? I honestly think every trader should be investing for the older years NOT just banking everything on trading.
I have no experience with Penny stocks, but could have guessed the end result. It's a trade where you are clearly taking the very dangerous side of a lognormal distribution to it's extreme. Like selling teenies with options, or worse.
Fun though, had a Yahoo Group back in the day, few members used to play them well, I blew the account down to $70 the once after that 1 delisted and got back to $1000 in about 2 weeks with some cracking 300%+ trades. Then lost it all again on the next pretty much. Coming up for 20years ago seems like yesterday!!
Actually no worse that buying dot com stocks in the dot com days. I was printing money left and right until everything came crashing down.
I think there is a lot to learn from this trade if you do some detailed chart analysis of the stock. The market will always exploit your weaknesses. Been there. Best wishes to you on your comeback!
Blaming your loss on the news. Claiming anything alike shows your incompetence and how clueless you are. It's normal for beginners to enter with such mindset, fantasizing about making insane amounts of money, getting rich and retiring. Recognizing the problem would be a big step forward... Or you can continue blowing large amounts of money and keep feeling sorry for yourself. The market is happy to take your money. WTF are you even doing? Seems like you watched the big short too much, and hoped to bank off of the recession? There's no such thing as free lunch.