Strategic Management and Opportunity Corp (SMPP)

[Reeftanker]

This was listed under the "notes" section of the SMPP FB page. I found it very interesting, especially about the custody services.

The Depository Trust Company (DTC) has suspended settlement services, except custody services, for the following security:


Cusip: 189098106

Security Name: Cloud Centric System, Inc

Cusip: 86273M100

Security Name: Strategic Management & Opportunity Corp


Just to clarify what the issuance of the dividend means:

In the simplest terms, custody services refers to the fact that when a company issues a dividend the stocks traded can only be from inventory on hand for 30 days prior to the issuance of the dividend. This essentially creates a "shortage" of stock because it limits the number of stocks that can be bought and sold to what actually exists and is in possession of the seller. That limitation is lifted once the dividend is issued and brokers are able to short sell the stock once again. For SMPP the issuance date is Feb. 22nd.

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