I can't trade my penny stock after symbol change

[watdahel]

I do penny stock trading with TD Ameritrade. Unbeknownst to me my favorite stock changed it's symbol yesterday and today I found I could not place any order regarding the stock. The order I placed the night before also disappeared. Is this normal? When will I be able to start trading it again?

I've contacted TD and I await their response.

 

[Pepsi90919]

i find the irony in Toronto Dominion Ameritrade amusing.



that is all

 

[Jhill]

trading penny stocks = lose your money unless you are an insider

why the SEC lets people trade these is beyond me.

 

[watdahel]

I'm up 33% so far.

The stock also reported a stock split. I don't know if the problem has anything to do with it. I checked otcbb.com and the stock is at least trading under the new name and not the old. So some are making some trades. This sucks because under the new name the stock went up another 30%. I on the other hand am stuck.

 

[TruePaige]

Originally posted by: Jhill
trading penny stocks = lose your money unless you are an insider

why the SEC lets people trade these is beyond me.

Oh come on, I've made a good deal of change here and there on stocks under a buck. =)

It's the only real area where you can double your money in a short period of time.

 

[watdahel]

Why didn't anyone tell me there was a hold up period when a stock does a split or changes symbol?

 

[mugs]

Originally posted by: erwin1978
Why didn't anyone tell me there was a hold up period when a stock does a split or changes symbol?

You're an expert trader capable of making $70k in one day. Do your own research.

 

[RossMAN]

Originally posted by: mugs

Originally posted by: erwin1978
Why didn't anyone tell me there was a hold up period when a stock does a split or changes symbol?

You're an expert trader capable of making $70k in one day. Do your own research.

AT doesn't forget :Q

 

[imported_Lothar]

Originally posted by: mugs

Originally posted by: erwin1978
Why didn't anyone tell me there was a hold up period when a stock does a split or changes symbol?

You're an expert trader capable of making $70k in one day. Do your own research.

Pwnt. :thumbsup:

 

[Miramonti]

You sent them an email instead of calling, lol??

 

[Miramonti]

Originally posted by: RossMAN

Originally posted by: mugs

Originally posted by: erwin1978
Why didn't anyone tell me there was a hold up period when a stock does a split or changes symbol?

You're an expert trader capable of making $70k in one day. Do your own research.

AT doesn't forget :Q

Ha, that's definitely one of the more classic ones.

 

[alien42]

Originally posted by: Jhill
trading penny stocks = lose your money unless you are an insider

why the SEC lets people trade these is beyond me.

that attitude kills me. i trade penny stocks and am very close to doing it full time. i am also not an insider for any companies.

OP - it typically takes 2 to 3 business days for the symbol change/split to be completed and for those days you can not trade. take a look at ADGF, they just completed a split and symbol change in preparation for an uplisting and their stock is scheduled to re-start trading today.

 

[judasmachine]

Originally posted by: jjsole

Originally posted by: RossMAN

Originally posted by: mugs

Originally posted by: erwin1978
Why didn't anyone tell me there was a hold up period when a stock does a split or changes symbol?

You're an expert trader capable of making $70k in one day. Do your own research.

AT doesn't forget :Q

Ha, that's definitely one of the more classic ones.

lol

 

[Special K]

Originally posted by: jjsole

Originally posted by: RossMAN

Originally posted by: mugs

Originally posted by: erwin1978
Why didn't anyone tell me there was a hold up period when a stock does a split or changes symbol?

You're an expert trader capable of making $70k in one day. Do your own research.

AT doesn't forget :Q

Ha, that's definitely one of the more classic ones.

He makes $70k per day, yet considers "splurging" on a $50 CPU

lol...

 

[Special K]

Originally posted by: alien42

Originally posted by: Jhill
trading penny stocks = lose your money unless you are an insider

why the SEC lets people trade these is beyond me.

that attitude kills me. i trade penny stocks and am very close to doing it full time. i am also not an insider for any companies.

OP - it typically takes 2 to 3 business days for the symbol change/split to be completed and for those days you can not trade. take a look at ADGF, they just completed a split and symbol change in preparation for an uplisting and their stock is scheduled to re-start trading today.

So where do you get all of your information that allows you to make it a full time job? Clearly most people aren't that good at it, otherwise they probably would have quit their jobs by now.

 

[DerwenArtos12]

Originally posted by: Special K

Originally posted by: jjsole

Originally posted by: RossMAN

Originally posted by: mugs

Originally posted by: erwin1978
Why didn't anyone tell me there was a hold up period when a stock does a split or changes symbol?

You're an expert trader capable of making $70k in one day. Do your own research.

AT doesn't forget :Q

Ha, that's definitely one of the more classic ones.

He makes $70k per day, yet considers "splurging" on a $50 CPU

lol...

Wow, I'm in someones sig quoted saying "I'm not gay but, I love my UPS man" and even I think this guys either hit his head or is typing from a white jacket with really long arms.

That quote is completely out of context and therefore funny so, I like it, just for reference sake.

 

[vi edit]

Originally posted by: jjsole
You sent them an email instead of calling, lol??

Email is an acceptable way to communicate with AMTD. They have a dedicated email group on 24/7 working the Kana (Email program) queues with another couple hundred reps flexing in and out at any given time helping respond quicker.

The reps working the emails are usually more trained/resourceful than the n00b phone reps and can look up answers better than having to stick you on hold while on the phone.

They try and shoot for a 6 hour turnaround on most messages so if it's not a huge rush on an answer that's not a terrible wait.

 

[alien42]

Originally posted by: Special K

Originally posted by: alien42

Originally posted by: Jhill
trading penny stocks = lose your money unless you are an insider

why the SEC lets people trade these is beyond me.

that attitude kills me. i trade penny stocks and am very close to doing it full time. i am also not an insider for any companies.

OP - it typically takes 2 to 3 business days for the symbol change/split to be completed and for those days you can not trade. take a look at ADGF, they just completed a split and symbol change in preparation for an uplisting and their stock is scheduled to re-start trading today.

So where do you get all of your information that allows you to make it a full time job? Clearly most people aren't that good at it, otherwise they probably would have quit their jobs by now.

i am competely self trained and have either followed the market (primarily OTC) or traded for almost a decade. the internet allows anyone to be an informed trader/investor. i truly enjoy and have a passion for finding, researching and trading stocks and have a knack for it.

 

[hiromizu]

Originally posted by: RossMAN

Originally posted by: mugs

Originally posted by: erwin1978
Why didn't anyone tell me there was a hold up period when a stock does a split or changes symbol?

You're an expert trader capable of making $70k in one day. Do your own research.

AT doesn't forget :Q

What a momo

 

[aplefka]

Originally posted by: RossMAN

Originally posted by: mugs

Originally posted by: erwin1978
Why didn't anyone tell me there was a hold up period when a stock does a split or changes symbol?

You're an expert trader capable of making $70k in one day. Do your own research.

AT doesn't forget :Q

Owned. Never saw this thread but I still would love to hear how you made that 70k so fast.

 

[Atomic Playboy]

Maybe he thinks "K" is an abbreviation for ".00," and he really only made $70.00. Otherwise, he's totally full of shit.

 

[Miramonti]

Originally posted by: vi_edit

Originally posted by: jjsole
You sent them an email instead of calling, lol??

Email is an acceptable way to communicate with AMTD. They have a dedicated email group on 24/7 working the Kana (Email program) queues with another couple hundred reps flexing in and out at any given time helping respond quicker.

The reps working the emails are usually more trained/resourceful than the n00b phone reps and can look up answers better than having to stick you on hold while on the phone.

They try and shoot for a 6 hour turnaround on most messages so if it's not a huge rush on an answer that's not a terrible wait.

Understandable, but they always say, 'if its urgent, call' or something to the sort. He was obviously in a much more time sensitive situation, since he was expecting to be able to adjust his position this morning. If it took 6 hours, the trading day would just about be over.

 

[glenn1]

Originally posted by: erwin1978
I do penny stock trading with TD Ameritrade. Unbeknownst to me my favorite stock changed it's symbol yesterday and today I found I could not place any order regarding the stock. The order I placed the night before also disappeared. Is this normal? When will I be able to start trading it again?

I've contacted TD and I await their response.

Depending on how big their book is for that security, it can take the Reorganization Department varying amounts of time to long your account the new security. If you *really* want to liquidate and can't wait for the reorg to be processed, ask your broker if they'll accomodate entering your trade as a "short" sale. This used to be called a "Short Sale Exempt" but the SEC has done away with this order type, but it's still the same concept - you own shares but they're not in deliverable form, but are expected to be within 35 days.