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ANSWERS! page 1 page 2 page 3 page 4 page 5 From: AssetConnect Tuesday, August 19, 2003 1:03 PM
Question
for
Dr-Stock
I discovered and subsequently assisted with the recovery of some stock for a person who forgot they had invested in it years ago. They offered me a 5% finders fee. How do we go about tendering the stock? You say you discovered it. I assume you mean you found the actual ceritificates. Now you must open a brokerage account and deposit them, once the certs have settled you will be able to see what the value is. There is a chance that over the years there may have been stock splits so there may be more shares then what you see..... Monday,
August
18,
2003
02:55
PM That company has to buy the remaining shares and establish a closing price that shareholders will receive.
From:
kluckm
Monday,
August
18,
2003
08:20
AM If
you
have
a
stock
brokerage
account
you
can
deposit
them.
Once
the
Monday,
August
11,
2003
11:58
PM You cannot short penny stocks. But if you shorted a stock that was $10 and it went down to pennies then that is a score. From: VerasinThursday, August 07, 2003 10:35 AM
Subject:
Question
for
Dr-Stock:
WORLDCOM/
MCI
When worldcom (or mci) will emerge from banckruptcy, it going to get a new symbol and value. the old symbol traded in pink sheet (wcoeq. pk) going worthlees. Do you know of any company emerging from banckruptcy whom old symbol has get trading later? that old symbols(wcoeq. pk) don't get deleting from the market? what company support that old stock? because this new company going to get a new symbol too. My question is because I don't know if sell now and take the loss or wait until wcoeq.pk get delisted, ask my broker for a "worthlees letter" to tax reduction at end of year and wait to see if there is any move up in the future for that symbol. thanks jose The best way is as you stated....ask your broker for the worthless stock certificate form...You can write it off and if ever starts to trade again and you sell you will then have a capital gain. I don't forsee this happening as Worldcom will try to start upa new company or issue other stock like KMart did. From: judshel Tuesday, August 05, 2003 2:00 PM
I
resigned
from
sears
in
1989
and
put
my
allstate
,morgan
Stanley
and
sears
stock
certificates
with
Charles
Schwab.I
received
these
stock
through
sears
profit
sharing
and
when
I
tried
to
sell
them
Schwab
said
I
need
the
price
I
paid
for
them.An
amount
of
money
was
taken
from
my
pay
check
every
week
for
about
7
years
and
the
Co.
also
matched
that
amount.The
question
is
how
do
I
find
out
what
I
paid
-sears
has
given
me
so
many
phone
#s
and
they
have
no
idea
what
I'm
talking
about.Is
there
one
phone
#
where
I
can
get
answers?
You should try to find out who the clearing agent or transfer agent is. They should have a record of what prices the stock was purchased at. If not contact your accountant for some basic math.....By this i mean let him go back over your W 9 tax forms that SEARS provided at the end of the year. In that form it should list your contribution to the 401 k plan each year. Take that total amount and divide it by the amount of shares you have. That should give them a cost average. Tuesday,
August
05,
2003
10:45
AM You have to decide what your risk / reward level is. If you have a decent gain you could sell enough shares to at least cover your initial investment and play with Wall Streets money for a change. From:
sir
1
ser
Monday,
August
04,
2003
10:41
PM It generally means it is bankrupt. You can ask your broker for a worthless stock certificate form and have your accountant write it off. You are not actually selling the stock but declaring a loss. If the stock should emerge from bankruptcy and start trading and you do sell then you would have a capital gain. From: dolores salgado Monday, August 04, 2003 10:49 AM I would like to know why Kmart stocks which are |
