posted
So...I finally experienced my first R/S and was hoping someone could help me out. The new symbol just started trading today and scottrade hasn't updated it yet. It's already trading and other people I've spoken to who use other brokerages aren't having this problem. So I shoot scottrade an email and this is what I get:
" Dear Investor:
Thank you for your e-mail. When a stock goes through any type of reorganization (forward/reverse split, name change, etc.), the shares will be credited as soon as payment is received from the transfer agent. At this time, we have no estimated date of payment on the shares of CDIV. There will be no delay to posting once the shares are delivered for deposit.
We apologize for the inconvenience and appreciate your patience.
I don't get it?? No other brokerages have this problem?? And they can't even tell me when my account will be updated?? Has anyone else ever had a problem like this and when can I expect it to be resolved??
Any help would be greatly appreciated!
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posted
Yea...just a straight R/S...was pretty weird cause the share structure was already so low. Seems like somethings in the works, especially with the way the L2's look already.
So....your the man with the experience around here =) Can you help me out with my question?? Do you have any idea how long it could take for the change to be made with my broker?
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posted
Yea...weird....the TA is SIGNATURE STOCK TRANSFER, INC. The couple people that responded on the hub said they were told about 3 days. Scottrade told me they have no idea, lol
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posted
haha...I was at work so I actually emailed them. This is what they had to say
" Dear Investor:
Thank you for your e-mail. When a stock goes through any type of reorganization (forward/reverse split, name change, etc.), the shares will be credited as soon as payment is received from the transfer agent. At this time, we have no estimated date of payment on the shares of CDIV. There will be no delay to posting once the shares are delivered for deposit.
We apologize for the inconvenience and appreciate your patience."
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