what will happen to my first republic stock I have 1000 shares and on may 3 it will be delisted and will go to OTC! Will I be able to sell my stock tomorrow please answer
Some more news / explanation of what is happening in the market.
Bro I’m talking about otc for Tomorrow ! Are you trolling and don’t know about otc?
I’m talking about FRC going to OTC tomorrow
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What makes you think it’s going to OTC? It’s been acquired out of receivership?
Are you clueless? They announce it today that FRC will be delisted and it will go to otc tomorrow may 3
Care to share link from the exchange - the news say otherwise.
Who said that? The 8k says everything is cancelled. How can a sold company move to OTC?
This is why I’m never nice to people.
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Yes a delisted company stock can end up being traded OTC but in the case of FRC you are essentially trading something that has no value and has no assets (unless I have missed something). As far as I understand all of the assets have been acquired by JP Morgan so whilst the shares may theoretically trade OTC the shares have no value and have no assets behind them
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It can still pump because people will close positions tomorrow
@bagowpg123 I have never dealt with the situation of a delisted company and being delisted means its no longer listed on the stock exchange. A quick google revealed a website that says
“If a stock is delisted, shares may continue to trade over-the-counter on the OTC bulletin board (or possibly on an overseas market). Shareholders can still trade the stock, though it is likely that the market will be less liquid.”
I have no idea if this is correct but essentially it seems to suggest trading on an unregulated market but the stock (in FRC’s case) has no value or assets
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Just seen it on FINRA too it’s one of the strangest moves I’ve ever seen.
212 has access to the OTC markets, so you’ll have to see if they’re prepared to add it for you.
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@Scrooge_McCodf I was going to give your comment a “thumbs up” but that seemed inappropriate and there isn’t a symbol for “shakes head with sadness”
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