Anchoring bias!

Anchoring bias is when investors rely on the first piece of information they receive on a topic or a stock. Irrespective of its accuracy, the information is used as a reference point, or anchor, to make subsequent decisions. For example, investors tend to hold investments that have fallen below purchase price and lost value because they have anchored their fair value estimate to the original price rather than to fundamentals. As a result, investors are exposed to greater risk.