I dont categorize this as mistake, but its learning experience.

I could think you have two lessons on this purchase.
a) Never make a bet with a very low volume based stock, since its difficult to get rid of it, when we needed. THIS IS IMPORTANT.
b) When the volume is more than 4x of average volume, You need to understand due to heavy demand, you are most likely paying PREMIUM, which should be OK, provided, that volume is going up from the point you purchased. As soon as you see the volume going down, its understandable its the max price for the stock has reached, You should get rid portion of it and buy it little later to average it down, its something I learnt and follow.