Can someone explain the ins and outs of what happens if we are delisted? Aren’t we coming up on the deadline? What happens to stock they’ve issued us?
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It doesn't matter what I sell my stock at - it's going to be a massive loss. I'm just curious about the options to reduce my tax bill
Question- if the reverse split happens and you sell your shares - are losses still calculated for tax purposes? I was a stupid person who had faith in the “turnaround” promised by DL.
I prefer google images and google translate myself.
Google search
How long can a stock be under a dollar?
The NYSE formally notifies the company and gives it six months to bring its stock price and average closing price up above $1. This means a stock can potentially trade for less than $1 on the NYSE for several months before either regaining compliance or being delisted.
What happens to my shares if a company is delisted?
When a company is delisted, its stock no longer trades on one of the major stock exchanges. ... The shareholder still owns the same percentage of the company as before, and he is free to sell the shares to any willing buyer. However, in financial reality, the delisting of a company is usually a huge negative
I have immediately sold my shares the day the vested for the last 10 years. Best decision I have ever made.
So wouldn’t we be better off to just sell them now? 100 shares at 50¢ is only $50 but if a 20:1 split drops our example to 5 shares - $10 spike to share price but then subsequent drop....why wait?
Exactly.. even 20:1 puts us below $10 a share at this point though, and then the sell off. I guess we’re looking at $5 a share again LOL.
CHK won’t let themselves be delisted. They’ll reverse split, probably something like 20:1. So, you’d hold fewer shares for the same value. BUT, immediately following the split, there would be a huge sell-off and the share price would probably drop significantly... which is what typically happens after such an event.
What it boils down to is that your total holding in CHK would drop value even further.
They won’t let it delist, though. Not a chance. A reverse split is coming.