01-17-2008, 09:21 AM
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#1 |
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Admiral
  
Join Date: Jan 2003
Location: You could pick up Lindsay Lohan for less than a intel 990x, and still have money left over to bail her outta jail
Posts: 5,029
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stock question
this may seem a bit odd so whats new.
anyway i have 60 shares of a company .and buying 180 shares of the same company using Scottrade . now my question comes in seeing i own 240 shares of this same company can i loose all of them due to a ruling they have coming into affect that anyone with less then 200 shares will loose them when there new policy take affect? to make this easyer to understand .i own out right in a safety depost box the first 60 shares . the 180 extra shares with scottrade i do not get the formal stock share papers. will the company find that i own all these shares and keep me on there books ?
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You could pick up Lindsay Lohan for less than a intel 990x, and still have money left over to bail her outta jail |
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01-17-2008, 11:52 AM
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#2 |
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Rear Admiral Lower Half
Join Date: Feb 2003
Location: St. Louis
Posts: 2,620
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Without seeing their specific requirements for their policy, I would think you need to have 200 shares in their holding to qualify as a customer. You can transfer your paper shares, or maybe transfer just enough to keep your account in good standing.
I personally think it's a crappy policy for an online brokerage to restrict its clientel based solely on share numbers. What if you only owned 100 shares... of Berkshire Hathaway?? I doubt they'd be giving you the boot.
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01-17-2008, 12:02 PM
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#3 |
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Admiral
Join Date: Apr 2000
Location: Seattle, WA
Posts: 7,223
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Wait...where does Scottrade say that you need 200 shares? I thought their min was $500?
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01-17-2008, 12:44 PM
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#4 |
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Admiral
Join Date: Jan 2003
Location: You could pick up Lindsay Lohan for less than a intel 990x, and still have money left over to bail her outta jail
Posts: 5,029
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no its the company the stocks are for .not the broker !
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01-17-2008, 06:13 PM
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#5 | |
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Rear Admiral Lower Half
Join Date: Jun 2002
Location: Charlotte, NC
Posts: 2,533
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Quote:
Are they buying them back? Can a company just take back their shares without compensating you for them? If so I see some companies being very profitable in the future.
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It only ends once... Anything that happens before that is just progress. Courage is not the absence of fear but rather the judgment that something else is more important than fear. |
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01-17-2008, 07:05 PM
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#6 |
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Admiral
Join Date: Jan 2003
Location: You could pick up Lindsay Lohan for less than a intel 990x, and still have money left over to bail her outta jail
Posts: 5,029
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here the whole deal in a nut shell .
the companys stocks are delphi and i was Will these shares 3 years ago. at that time they were worth about $22 a share .today there worth .16 a share . but delphi coming out of bankruptcy and i hate to just loose out becouse i only owned 60 shares . i couldn't sell the shares when i first got them do to legal paper work . so just this last fall it all became mine. now that there coming out of bankruptcy. they going to buy back everyones shares at a set rate. 1 new shares for every so many old shares. if this is all court approved . but you had to have a min amount of shares for this to happen .or you just end up with fair market price on that day . so lets say at todays price i only get .16x60 = $9.60 for all of them . but the new shares will start off at a min value of say $60.00 when they get court approval to go with the new plan and leave bankruptcy. so i have shares from a will. and i have extra shares i bought though scottrade to make sure i didn't get forced to sell at the old junk rate. im just wondering if they all count as one lot of stocks or 2 lots of stocks i own. Last edited by renovation : 01-17-2008 at 07:07 PM. |
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01-17-2008, 08:49 PM
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#7 |
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Chief of Naval Operations
 
Join Date: Jun 2000
Location: woah... why is welfareloser here with me so early in the morning and more importantly why am I wearing her clothes?!?
Posts: 13,754
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what's the stock symbol?
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********************************** DCM #1 (Founder)  "Nobody beats Vitus Gerulaitis 18 times in a row." - Vitus Gerulaitis on beating Jimmy Connors after 17 failed attempts. |
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01-17-2008, 09:26 PM
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#8 |
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Chief of Naval Operations
Join Date: Aug 2002
Location: raising my pimp hand strong
Posts: 13,038
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it probably doesn't really matter as they would likey only give you one new share for 200 shares of the old stock.
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70% of the world is covered by water. The rest is covered by Bob Sanders |
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01-17-2008, 09:56 PM
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#9 | |
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Admiral
Join Date: Jan 2003
Location: You could pick up Lindsay Lohan for less than a intel 990x, and still have money left over to bail her outta jail
Posts: 5,029
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Quote:
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01-18-2008, 09:39 AM
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#10 |
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Picture of the Day Guru
Join Date: Oct 2002
Location: Sunny San Diego
Posts: 8,756
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When a company is in bankruptsy, it is the smallest debt holders that go to the bottom of the list for getting any money back. They don't always. There may be a cutoff date for when the redeemable shares had to have been purchased by. You will need to find out when that is or was. If they are offering a 200- one exchange, you will probably get one share- unless they decide to pro-rate it and offer partial shares which they could do. You will not likely get two full shares for the 240 you have.
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