Can't sell shares after reverse stock split - broker not allowing it!

This is a discussion on Can't sell shares after reverse stock split - broker not allowing it! within the First Steps forums, part of the Reception category; Originally Posted by 99point99 No, I picked the stock knowing I would get the shares for $0.45, and according to ...

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Old Oct 24, 2017, 9:29pm   #9
 
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Originally Posted by 99point99 View Post
No, I picked the stock knowing I would get the shares for $0.45, and according to my trading account have made $22K on top of my original $3K investment due to the share price increasing to $4.18. However the brokers are not allowing the sale of my shares either online or over the phone - which leaves me slightly confused about what to do to be honest. Just wondered if it's normal not to be able to sell shares immediately after a reverse stock split and that the broker are validated in saying that there is a 'consolidation period'. It is a weird situation, I bought in during a reverse stock split a couple years ago and made a huge profit without this hassle, the only thing that has changed is that I am using a different broker this time much to my dismay and that's why I suspect something fishy is going on.
ohh mate you've got this sooo wrong im afraid, as the guys said. Its just that your broker hasn't got an update of what your reduced number of shares is evidently. 10:1 means you divide your number of shares by 10 now. I think this means the value has actually dropped lower than 3K because of a recent sell off.
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Old Oct 24, 2017, 9:33pm   #10
 
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I think this means the value has actually dropped lower than 3K
Agreed, that's penny shares for you - probably the spread.
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Old Oct 25, 2017, 3:25pm   #11
 
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99point99 started this thread The actual listed share price is up to $4.47 today. Regardless of the share price, is it normal to not be able to sell shares after a reverse stock split? I have logged onto my account again today and I am unable to sell or even buy anything on VNCE.

"Market data not available
Unfortunately, we do not have a current market price available for Vince Holding Corp USD0.01. In order to obtain the current price, or if you would like to trade this stock, please call our dealing team on 0117 980 9800.
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Old Oct 25, 2017, 4:19pm   #12
 
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Originally Posted by 99point99 View Post
The actual listed share price is up to $4.47 today. Regardless of the share price, is it normal to not be able to sell shares after a reverse stock split? I have logged onto my account again today and I am unable to sell or even buy anything on VNCE.

"Market data not available
Unfortunately, we do not have a current market price available for Vince Holding Corp USD0.01. In order to obtain the current price, or if you would like to trade this stock, please call our dealing team on 0117 980 9800.
That's why I stay away from those penny stocks, maybe there is no market for it, e.g. no one is willing to buy or sell, so no bid / ask quotes...
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Old Oct 25, 2017, 4:22pm   #13
 
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Originally Posted by 99point99 View Post
The actual listed share price is up to $4.47 today. Regardless of the share price, is it normal to not be able to sell shares after a reverse stock split? I have logged onto my account again today and I am unable to sell or even buy anything on VNCE.

"Market data not available
Unfortunately, we do not have a current market price available for Vince Holding Corp USD0.01. In order to obtain the current price, or if you would like to trade this stock, please call our dealing team on 0117 980 9800.
Yesterday the daily volume was 56400 shares and today it is 14200 so far... Wow I am not sure how you are going to sell and on what price... Why did you buy such a low float in the first place?
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"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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