Hi,
Apologies if this is the wrong section of the forum.
I currently hold 4,500 quantity of Luckin Coffee that has been quite green previously. I decided to hold on to my trade as I saw I wouldn’t be able to purchase more to due the limited buy orders capped at 500.
So the news has come about the fraud and whatnot. I’m wondering what will happen to any open positions in the event that Luckin Coffee is removed from the NASDAQ ?
Thank You
Usman
I don’t know the answer but you can search for the word “delist” or “delisted” here on the forum. It’s a common question so I think you’ll find some good info.
I think it would depend on why it got delisted but as an example I had some NMC health and it got delisted, result: lost all of my money.
Did it just cash out at whatever value your trade was at ?
This is slightly worrying as my Luckin Coffee is -3k.
in my case it first got suspended out of the blue so I couldn’t do anything. then later on it got delisted. Well I learnt a lesson not to mess with anything that has a hint of delisting about it, it is risky IMO.
I’d be very weary of it. I cashed mine in and have walked away from them. That’s one risk you don’t need to take in this day and age
Yea, its not a good situation. I still think it has potential to spike, but it really depends on what happens with the delisting. Last I saw they fired the top boys and appealed against it. They are no longer on the “delist” list.
I was up 6k on this a few days ago. But the infuriated capping of stocks made me hesitant to take my profits as I couldn’t buy more at a lower price.
Think i’ll just wait for a somewhat good day and attempt to minimise loses lol.
Think it’s next week or week after they are up infront of the committee to see wether they are delisted or not.
Thing is, they’ve got 1000s of stores in China and with the COVID restrictions being unlocked it really has the potential to boom (for the right reasons)
@Trader787, if it is just delisted and still operating then surely you should still own some shares in the company, but not in a PLC but in an LTD? (Or country equivalent to PLC and LTD in the UK)
Maybe the problem comes from the fact that on T212 the shares are kind of held by T212 on our behalf and their are not really in our name?
What I mean is, if the company does in the future become listed again I guess you still own some shares.
yes sorry I worded that badly, I still had the shares but they were read only and there is a chance they could get listed again and i’ll get my money back. This was with another share dealing account and not T212, I’ve since closed that account and donated the shares I had to charity which was the only option they gave me which was fine by me.
I guess it would be the same on T212, I imagine all platforms have a similar procedure.