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What to do with old Stocks?
Posted by: ztirffritz
Date: November 28, 2017 03:58PM
I have shares of a company called Lecere. They were a small start up that was trying to use iPads as a portable point of sale for servers in restaurants. The company imploded when their main developer left. I still own the shares but they're all but worthless. Today the value went 900%!!!! That means they're worth nothing + $0.000009/share. Can I do anything with them? I can't even sell them because they're worth so little that I can't trade them without calling someone to place the order. That would cost far more than the stocks are worth.



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Edited 1 time(s). Last edit at 11/28/2017 03:58PM by ztirffritz.
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Re: What to do with old Stocks?
Posted by: wurm
Date: November 28, 2017 04:06PM
Do you do Secret Santa at your workplace? smiling smiley
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Re: What to do with old Stocks?
Posted by: DP
Date: November 28, 2017 04:17PM
Frame the shares and hang them on the wall as a reminder that not everything works the right way in life!





Disclaimer: This post is checked for correct spelling, punctuation, and grammar. Any attempts at humor are solely the responsibility of the author and bear no claim that any and all readers will approve or appreciate said attempt at humor.
My name is DP, and I approve this message.
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Re: What to do with old Stocks?
Posted by: kurtzie
Date: November 28, 2017 04:27PM
Donate them to charity that you don't like?
Of course you will be on their mailing and call list forever…

Steve
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Re: What to do with old Stocks?
Posted by: JPK
Date: November 28, 2017 04:28PM
They will stay in the "positions" portion of your account as a permanent reminder of your stock picking ineptness.

I got a couple of those taking up space as my personal stupidity as well!

At some point if the stock gets delisted, your brokerage firm may clear it out.

JPK
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Re: What to do with old Stocks?
Posted by: Paul F.
Date: November 28, 2017 04:35PM
I keep one stock like that... as a reminder that "pump and dump" operations DO exist.
I got suckered by hype, put in (I think) $400, and the stock plummeted, reverse split, plummeted some more... Eventually the company got bought out, so I own 800 shares at .0035.
I keep it because, like you said, it would cost more to sell it than to just leave it sit where it is.



Paul F.
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A sword never kills anybody; it is a tool in the killer's hand. - Lucius Annaeus Seneca c. 5 BC - 65 AD
----
Good is the enemy of Excellent. Talent is not necessary for Excellence.
Persistence is necessary for Excellence. And Persistence is a Decision.

--

--

--
Eureka, CA
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Re: What to do with old Stocks?
Posted by: GuyGene
Date: November 28, 2017 04:48PM
I've got many shares of worthless stock too. This is The True Story of How I bought them: a friend taught me how to buy online with a good company (it is), and even though I wanted to buy Apple, he convinced me to buy this penny stock at $.08 a share. It had gone to $.41 a year before. An acquaintance he called Lumpy (no kidding!) put him on to this stock. I bought, all the while wanting Apple. Here goes - IF I had bought Apple, I'd have over $30,000 now. With Lumpy's pick, I have $.00. smiley-laughing001 facepalm

Ethyl stuck to her guns, bought Apple at same time. She's doing quite okay.



That old man - he don't think like no old man...
Now I wouldn't want to be within 400 - 500 yards of one of them nuclear bombs when it goes off! WW1 Vet Old Man
"He's pinned under an outcropping of rock. Lucky for him, the rock kept the dirt from burying him alive."
If idiots could fly, this place would be an airport. And I'd be a TSA agent.
A bonified member of The Mystic Knights of The Sea, George P. Stevens, President. Andy Brown, Treasurer, Algonquin J. Calhoun, Legal Consultant.
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Re: What to do with old Stocks?
Posted by: Ammo
Date: November 28, 2017 05:51PM
Any time you someone gives you a “hot” stock tip, its way too late. Invest on long-term promise, like Ethyl.



Be kind, for everyone you meet is fighting a battle you know nothing about. —Wendy Mass

Until you make your unconscious conscious, it will direct your life and you will call it fate. - Carl Jung
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Re: What to do with old Stocks?
Posted by: Filliam H. Muffman
Date: November 28, 2017 05:53PM
Have you already taken the loss on your taxes? If not, you can do it now, or put it off until you have some profit to offset.



In tha 360. MRF User Map
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Re: What to do with old Stocks?
Posted by: ztirffritz
Date: November 28, 2017 06:08PM
Honestly, it was always a penny stock, so my 200 shares amounted to about maybe $10 of stock. I was just hoping that it would pop to about $2/share at some point. It was the first non-Apple stock that I purchased, so I didn't really know at all what I was doing. If someone were to say "you still don't know what you're doing" I'd have a hard time disputing that claim.



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Re: What to do with old Stocks?
Posted by: 3d
Date: November 28, 2017 06:40PM
I have 250 shares of Blockbuster worth $0.0045/each taunting me each time I log into my Scottrade account.
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Re: What to do with old Stocks?
Posted by: NewtonMP2100
Date: November 28, 2017 07:24PM
.....take stock.....of your life....



_____________________________________

I reject your reality and substitute my own!
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Re: What to do with old Stocks?
Posted by: Kraniac
Date: November 28, 2017 08:02PM
eat them.
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Re: What to do with old Stocks?
Posted by: Lux Interior
Date: November 29, 2017 07:02AM
Most of mine have disappeared. They were from my brief stint with casual day-trading during the internet bubble.

I made some decent returns trading Egghead until they went bankrupt. I had a bunch of shares that were worthless, but they eventually went away. I still have one share of a company called Mediabay (MBAY). I apparently paid $157 for it. I guess it just reverse split until it hit one share.
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Re: What to do with old Stocks?
Posted by: Buck
Date: November 29, 2017 11:19AM
Before I had my coffee, I read "old socks", while scanning subjects.
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Re: What to do with old Stocks?
Posted by: NewtonMP2100
Date: November 29, 2017 11:35AM
....can you use them to stuff in a bra.....or down one's pants....??



_____________________________________

I reject your reality and substitute my own!
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Re: What to do with old Stocks?
Posted by: ztirffritz
Date: November 29, 2017 12:56PM
I like the Secret Santa idea...



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Re: What to do with old Stocks?
Posted by: Steve G.
Date: November 29, 2017 01:04PM

Remember to remove prisoner first before discarding.
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Re: What to do with old Stocks?
Posted by: wave rider
Date: November 29, 2017 05:02PM
Quote
Buck
Before I had my coffee, I read "old socks", while scanning subjects.

I stuff mine with catnip, a delightful treat for my cat lads...

...Oh, you wrote stocks...



=wr=
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