RV, you can, but it's not "technically" selling those shares you own (yet), it's the broker is basically letting you short the stock, "selling shares" you don't have because they know it's going to true up in time. I tried it yesterday by calling the broker and sold a couple just to try it, it now shows SLTDD -50, and a negative value, and there's cash in my account. So I "sold" at the price I sold at post RS, and have that money now, and could re-buy if I like. Once the New shares replace the old ones, this -50, will just be subtracted from my total lot. There would be no need to cover, the cover will automatically take place once the shares are there. Not sure if they let me or others based on account value or share count (allowable to sell as a percentage of total).
Carl said something similar, we use the same broker (Schwab) however I didn't get the "threat of margin call" (that sounded like what Carl got). I can't imagine they would call you on this type of transaction...
Also, I tried selling on (Technically Shorting) SLTDD just to see if it would allow me. It prompted me saying, "This security is currently not held in your account" , Then there were option's to check (5) not listing them all cant seem to copy and paste, but one stated, "Company is undergoing a corporate action (i.e. stock split, company name change, corporate exchange or acquisition, merger or spin off) and shares will be in the account, in good deliverable form, by settlement date." I tried that option with no success. However I imagine the call I places led to this exact transaction.
I'm thinking this is just a settlement issue, and as other traders' brokers are reportedly seeing the splits happening, I'm assuming it's happening and just taking more time for some brokers than others. This lag could be based on internal reviews being needed, and/or just taking on the "supposed" risk of updating prior to the shares actually being there.
Maybe it's based on share count? Anyone with over 100K pre split shares showing the split completed?
p.s. With you on the Tesla, but I'm holding out for the X.
:)
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