Hi all, I received the notification below about Luckin Coffee:
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.
I have Luckin Shares in both my CFD and Invest accounts and I’m not fully understanding as I’ve not had a stock I’m invested in be delisted before, so my questions are:
Am I right in thinking I can hold on to both sets of those shares and wait to sell as they’re not in ISA accounts?
I have an average of $1.4 and right now they’re trading at $3.31 pre market, if I wait until open and sold, would they be sold at ~$3.31 or $1.4?
Thanks for any advice.