Hi there. Ultimately we can't really tell people how to formulate their portfolios. So for that reason, I can't really give you any sort of guidance as to whether or not you should double your position. It all depends on your overall portfolio, risk tolerance, goals, etc.
What I will say is that when I buy a stock, I often assign a targeted allocation and stick to it. For example, I won't double down on a position and go from 3% to 6% just based on the fact it's down in price. I think in that instance you end up chasing gains.
In regards to Park Lawn, I have been adding aggressively over the last few months and will continue to add aggressively throughout 2024. I believe the stock is cheap, even during its recent surge from the $15 range to $19.
3% is my target allocation to Park Lawn. However, I never seem to get there so I do seem to be always adding to the company. I think long term shareholders will be rewarded adding at these levels.
As always, we have a ton of content on Park Lawn, including our Bull List report here:
https://www.stocktrades.ca/premiumfiles/Stocktrades-Premium-Park-Lawn-PLC.pdf
And even our analysis from a few months ago, which is still very relevant:
https://www.stocktrades.ca/analysis-of-park-lawn-corporation/