Hi, I have a few questions regarding Luckin Coffee and could you please answer all. We all received the T212 notification regarding LK and there are some things I want clarification on.
The first is for those who just hold LK stock normally in an investment stock portfolio in a Trading 212 Invest account and not in an Trading 212 ISA account. Do we also have to get rid of LK stock not held in a Trading 212 ISA account by July 26 too?
If not how long can we hold LK stock that’s held in a Trading 212 Invest account? And will we always have the option to able to sell it on T212?
Finally, I attempted to sell LK last week and saw the actual latest market sell price wasn’t on T212. The sell price it showed on T212 was $1.42 and not the market sell price which was over $2. Can I get your confirmation that selling LK stock will sell at the market sell price and not what’s on T212?
"As an investor in Luckin Coffee, you are probably aware that on 26th June this company was delisted from the NASDAQ Stock Exchange. The shares are now being traded Over-the-Counter (OTC). We do not provide access as a rule to OTC stocks, which are not permissible on an ISA. We understand that you do not want to be locked into holding shares, and so will make the shares available to sell. We have not however been able to integrate a new price feed for this market, so you will not see a price displayed. This is not how we wanted to offer the stock, but feedback from our Community has suggested that it is more important to enable you to sell your shares than to wait for a more complete solution. You are under no obligation to sell the shares (unless they are held in an ISA) but if you would like to we recommend checking the approximate price using a resource such as Yahoo Finance, or Google (OTCMKTS: LKNCY) before placing an order. ISA Accounts Sadly, stocks trading on an OTC market are not permitted to be held in an ISA. We have an obligation within 30 days of delisting, to remove any such holdings from ISA accounts. If you hold stock in an ISA and have not sold it yourself, we will liquidate it on or around 26th July. The proceeds will stay in your ISA. If you have any general questions, please check out the Trading 212 Community. More specific details can be found at: https://helpcentre.trading212.com/hc/en-us/articles/360009775317 "
We are working towards gaining full access to OTC markets and providing it for trading, which will greatly improve the experience with such stocks. Until then, please refer to what is stated above.