What next for COUV?

@MKN86 We would have to get that amount back in order to give it to you. This means there has to be someone willing to buy those shares for that value. We can’t create that money out of thin air.

@phildawson I doubt it’s done by phone as the stock is delisted, as also confirmed on the OTC Markets website. It could be market makers trading between themselves, I don’t know.

https://www.otcmarkets.com/stock/COUV/overview

Warning! Grey Market securities are not traded on the OTCQX, OTCQB, or Pink markets

Broker dealers are not willing or able to publicly quote these securities because of lack of investor interest, company information availability or regulatory compliance

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Oh I was just wondering if you knew how they were traded. Just looks like its being traded, I don’t know myself. Looks like it bounced and stayed around that ~0.2

Screenshot 2021-02-25 at 17.11.39

But then how can you make a decision for everyone. What if for example i think looking at todays trading its largely around 0.25 i want to sell at 0.30 but someone else on trading 212 would hold out for 0.50 etc. If you just take a position of selling at any old price everyones shares then Trading 212 should add compensation for losses incurred which might otherwise not have happened. Ultimately trading 212 has a responsibility here. Trading 212 only added this company on the 27th of December and just 6 weeks later it gets suspended.

T212 have no say in what gets suspended, they added the pump and dump stock as it was requested by the community. I’m guessing they wish they hadn’t bothered. :sweat_smile:

They are just reliant on what IB can provide. If IB can’t access that market then theres not much T212 can do until they get an update.

They also can’t recover any money from it in this current position. They are just a broker it’s not going in or coming out of their money pot. It just connects the dots.

I think the best hope would be if interactive brokers (and therfor trading212) could look into at least allowing people to sell should they wish to given trading is clearly still happening with this stock.

Who would be buying? You need to have both sides to the deal. They don’t have access so there is no quote for a BID or a way for the trade to place.

:man_shrugging:

Thanks for the replies. I understand you will be working to find a suitable solution on this. Please can we be presented with the option to hold even if it means we can’t buy or sell until it re-lists (if it does), it seems unfair on us using the platform that we could get stung if we’re forced to sell out of our positions when it’s trading low for it to go back up in 2 months.

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@MKN86 It’s not listed on the exchanges, there’s literally no place to sell it.

@Garethb Yes, we’re exploring the ability to just hold until a potential relisting.

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I would like to have the option of taking my original investment back out, please.

not possible unless there is someone to buy it from you. surely you were aware this was a possibility before entering the market?

Don’t patronise me. There’s a difference between losing your investment and being fundamentally obstructed in buying or selling your investment by your broker. As you well know.

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this goes beyond T212 and you know that too.

Surely trading212 should have thought of a way to handle this. This suspension happened two weeks ago. They should be a way to allow us just sell rather than blocking us entirely from selling this stock. What is it sitting in my account doing if I can’t sell it?

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I totally understand that 212 have little control here. I have a small position in COUV. It was basically a bet to me and if I lose the lot it’s no big deal. I invested in this penny stock what I was willing to risk to lose as you should with these.

What I don’t understand is how this instrument is trading elsewhere, and why IBKR couldn’t within these 2 weeks suspension advise how they were willing to treat this instrument going forward before it’s opened back up today.

I see on Twitter other brokers trading this instrument and as such this could have allowed us to sell, even if it was at a loss on the dip to where it’s gone, or either buy more.

I fully expect this to go back to OTC pink sheets over time so are we (IBKR/Trading 212) just gonna hold the stock until that happens?

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Not really. They use the Interactive Brokers excuse at every opportunity. Surely, the consistent and regular problems should have been addressed by now? This particular case could have been addressed 2 weeks ago after the initial suspension. Whoever manages that relationship needs to have a serious look at it as the end user is the one suffering time and time again

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@David just found its TD Ameritrade (Schwab+TOS) that have access to grey markets, and have been buying and selling today.

Every other broker it seems no access to suspended stocks.

phil has probably addressed your first question with his post. as for the positions, its very likely that its a case of holding onto them until they return to a platform we can trade, which should be ‘relatively’ soon if the claim they will be right back after filling out the paperwork holds water.

If others are unable to understand how the relationship between markets work, they may need to reconsider their choices before blaming the broker at every inconvenience.

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Looks like

https://www.ally.com/invest/

has access to grey too and looks like people on ST were trading with it.

Have looked into Schwab previously. Looks like an awesome broker. I will look further.

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It would be super if we could hold onto the shares. I got in at a relatively good price and would like to maintain ownership if possible.

I am on IB who have stated they do not trade COUV as its not OTC grey market.

Does anyone know where I can invest in COUV? Even via another broker?