“Sell to worthless” got an email back from Choicetrade…sidedraft you are not alone…Choicetrade sold my TUIC to worthless also. This is going to be hard to use Choicetrade (Penson) to buy any other bankrupt companies in the future. I believe that if a stock is trading, regardless if it has a transfer agent or not, I should be able, as a trader, to buy or sell when I want. This seems very fishy and wrong on their part.
Dear Sir,
Our clearing firm has written off the stock as worthless. This is because, according to the DTC there is no transfer agent. If you feel that this stock should not be deemed worthless, you will have to provide us with the company's transfer agent, so that DTC may research. We can place the stock back in your account, but be advised that there is a monthly fee of $30.00 to hold the worthless stock in your account.
Thank You
Regards,
ChoiceTrade Client Services
