What? I don’t postulate that it is a "penny-for-the-lot" sell. I give the FACTS of what a PENNY FOR THE LOT trade is. This is not difficult. The whole point is to purge stocks from an account at a complete loss. This is to offset capital gains. That’s why a REGULATOR has a section on this type of trade.
Verify with FINRA. SMH
Some firms facilitate the sale of positions held by their customers in low-value OTC equity securities, (such as EVTI) as defined in FINRA Rule 6420, that they or their customer may deem to be “worthless.” The firm purchases the shares to remove the position from the customer’s account and to enable the customer to claim a capital loss for tax purposes. The purchase price typically is nominal and set solely for purposes of liquidating the position. In some instances, it may not be a per share price, but may be sold, for example, for one penny or one dollar for the entire lot. These sales sometimes are referred to as “PENNY FOR THE LOT” transactions.
DD IS IMPERATIVE
DON’T BE FOOLED