Blum Holdings Inc (BLMH)

[oatsuzn]

I asked them about this before with another stock. This is what they told me:

"Whenever a security undergoes a split or exchange into a new name/symbol, accounts are updated as soon as the depository allocates the new shares to our clearing firm. Allocation is usually done once the depository receives the new shares from the company. Regarding XXXX updating in your account with the new shares, we currently do not have an anticipated swing date provided by the issuer when we will receive the new shares. However, as soon as we receive the new shares, the position will automatically be updated in your account and reflect back under the ticker XXXX.

This was a Mandatory Reorganization per the company, so there is no action that you had to take and your account updated automatically. At TD Ameritrade we do not front the shares, meaning we do not post them into accounts until they have been allocated. We appreciate your patience while we are waiting to allocate the shares. Again, as soon as we receive the new shares they will be updated in your account and allocation can occur throughout the day as well."

So, basically our shares will automatically change once the company gives them to the depository. I heard Fidelity changed theirs already. TD's will probably change tomorrow. Village Farms got halted by the NASDAQ 2 years ago because of something similar.