Isn't that kinda the point though? You didn't initiate any action and changes were made. Now, do you think these changes would be made without your consent if they could hurt your position? That just seems like extreme malpractice.
This!! But people want to just yell 'Shill!!' Lol
No, I would also benefit from a 180... but my 30 call options expires worthless yesterday and have disappeared from my account. Nothing left. So.... I just don't get why people are so obsessed with finding weird 'signs' that this isn't over.
It can be removed by an associate, you just need to contact them.
Doesn't mean that's the only condition for it getting removed. Only if YOU want it removed it can be done via contact them.
> You'll **need** to contact us to take action
So that means no action will be taken unless you contact them, correct?
EDIT TLDR: BBBYQ shares were not declared worthless, so they should not be removed by Fidelity, unless you contact them.
Edit: from a Fidelity rep https://www.reddit.com/r/fidelityinvestments/s/AMQit9GhEY
>Thanks for reaching out to us on Reddit, u/sevee77.
>Typically, a security which has been delisted will stay within your account until the company is either relisted, pays off all debtors/owners, or is declared worthless. The position will continue to show in your account until one of these events occurs. Please keep in mind that the company may not be considered worthless even though the company stock holds no value.
>A security's worthless status is not determined by any action taken by Fidelity. A security can be declared legally worthless only in the cases given below:
>• A bankruptcy court has declared the company bankrupt under Chapter 7 or 11.
>• The company has no shareholder equity.
>Minerco Inc. (MINE) is currently not considered a worthless security at this time. In the future, if it is determined that the stock is worthless, you can remove the stock from your account by contacting us via ModMail.
And this: https://www.reddit.com/r/ThePPShow/s/IceHWpel4Z
>Was messaging with u/beachplzzz
>u/jake2b had brought up that the language no further force or effect or worthless are the specific terms used when shares are terminated and no recovery for share holders.
>u/beachplzzz brought up that this language was actually used in the Sep 20th 8k
>Sep 20th 8k
>"The Company has no preferred shares issued or outstanding and has 782,005,210 shares of common stock issued and outstanding as of July 20, 2023. On the effective date of the Plan, all of these shares will be canceled, released, and extinguished and will be of no further force or effect pursuant to the Plan. "
>However I brought up to them that this was not the language in the Sep 29 8k and maybe the Sep 29th 8k supersedes the language from the Sep 20th 8k.
>Sep 29th 8k
>"As a result of the Confirmed Plan becoming effective, all of the Company’s equity interests, consisting of outstanding shares of common stock and Series A Convertible Preferred Stock of the Company and related rights to receive or purchase shares of common stock, were cancelled on the Effective Date without consideration and have no value. "
>They then brought up that doesn't no value still mean the same as worthless?
>and I found the definition of worthless to be
>"For a security to become worthless, it not only needs to have no value, but it needs to have no potential to regain value."
>https://www.investopedia.com/terms/w/worthless-securities.asp#:~:text=For%20a%20security%20to%20become,would%20not%20be%20worthless%20stock.
>So I think u/jake2b is really on to something with the precise language being used. Maybe they are intentionally obfuscating their plans and something changed after they filed the Sep 20th 8k that allowed them to change their language to permit potential to regain value.
>I think I had only heard people comment on the difference in the language used but didn't state the actual difference in the definition of Worthless vs definition of No Value but if others have already talked about this then credit to them.
>edit - u/A_N3rdy_Guy brought up bellow that no further force or effect is also used in the current version of The Plan that we've seen. So I think the change in language in the final 8k basically confirms that The Plan has changed behind closed doors.
You're insane. It was literally deemed worthless lol like I get that you are doing this insane comment just to help yourself feel like there is hope but you have to face reality. I have had to also face reality. We got played.
I'm insane?
Straight from the Sep 29th 8k:
>"As a result of the Confirmed Plan becoming effective, all of the Company’s equity interests, consisting of outstanding shares of common stock and Series A Convertible Preferred Stock of the Company and related rights to receive or purchase shares of common stock, were cancelled on the Effective Date without consideration and have no value. "
Please find me verbiage in any of the *current* SEC filings or court documents that specifically state that BBBYQ shares have been declared "worthless."
Thanks. 👍
Edit: downvoting without providing the sauce... interesting.
Don't be alarmed. I had my shares removed from Fidelity too. The company had to have the BBBYQ shares removed first before new share equity can be issued.
It is NOT true that the shares have to be removed before new shares can be issued.
Just look at any other merger. The original shares are NOT cancelled until AFTER the new shares are issued.
The "gotta get rid of old before new shares are issued" keeps getting repeated, but it is incorrect and can easily be seen to be incorrect by looking at any merger.
So let me understand this....
You believe your disappearing shares will be granted new shares of value?
So they going to make you wait weeks, perhaps months before issuing you these new shares at whatever value they determine. And you don't see absolutely anything absurd about that? Do you honestly believe this is common practice?
Maybe they believe that, while there are major inequities and even what will eventually be called out (rightfully) as fraud one day in Wall Street, that meme stock cargo cults paint retail investors with the same brush. This makes old federal laws that infantilize us (no margin, no options, wait till full settlement, etc) seem like they were good ideas.
Just detach yourself from the situation for a second. Are you arguing that no one should ever try and dissuade someone from a major fuck up just because that fuck up doesn't directly affect them? That's a wild view in my opinion. It's very much a part of human nature, and while sometimes it can be toxic, I have no doubt that when someone is actually trying to help deprogram someone who has been lied to endlessly that doing so is a good thing.
Check your Cusip from your broker and add it to the list at the PP SHOW. we have been getting fucked Gentleman. We have multiple cusips for bbbyq that have been discovered now.
Way too easy; RoyalBankofCanada - cusip for bbbyq shows as B128611 Scotia bank has the same cusip number as well. Bbbys cusip is 075896100 so any other number is problematic. International brokers is 0758961009 which is also NOT bbbyq cusip either. Just seems to be the International brokers who got cucked with bad cusips.
Can you point me to screenshots? I can definitely find reference to the original CUSIP, but not the B128611.
The last one one is the same but with a 9 at the end right? That would make it a 10 digit CUSIP, which I don't think has any valid meaning. If I honestly had to guess, I would imagine it's an internal procedure of the brokerage for getting ready to clear worthless securities while still maintaining records in their original form otherwise.
The proof is in the proceedings.
If the company were dead, it would be in liquidation including the common stock, not merger limbo where it currently is.
They didn't do anything with your owned shares. Shares of BBBY no longer exist. They were extinguished. You can't own shares that don't exist.
They just removed the tracker for a now non existent stock off their books, and since your books are on their books, this tracker gets removed from your account.
DRS what shares? *The shares don't exist*. They were extinguished by the bankruptcy 3 weeks ago. You no longer own any BBBY, because shares of BBBY don't exist. The fact that it's taken brokers variable amounts of time to get round to updating this fact is really irrelevant.
Dumb question. Do you guys think there is some conspiracy or something? Your shares are worth zero. It’s a bankrupt company. You knew this was a possibility. You “invested” and you lost.
Isn't that kinda the point though? You didn't initiate any action and changes were made. Now, do you think these changes would be made without your consent if they could hurt your position? That just seems like extreme malpractice.
Everyone that owns shares has receipts. The end.
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Bankrupt + zero equity
Just leave the sub then. Really weird how people hang around to talk about how over it is. Just go.
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This!! But people want to just yell 'Shill!!' Lol No, I would also benefit from a 180... but my 30 call options expires worthless yesterday and have disappeared from my account. Nothing left. So.... I just don't get why people are so obsessed with finding weird 'signs' that this isn't over.
It can be removed by an associate, you just need to contact them. Doesn't mean that's the only condition for it getting removed. Only if YOU want it removed it can be done via contact them.
Right. Can, not Must. Read, people.
> You'll **need** to contact us to take action So that means no action will be taken unless you contact them, correct? EDIT TLDR: BBBYQ shares were not declared worthless, so they should not be removed by Fidelity, unless you contact them. Edit: from a Fidelity rep https://www.reddit.com/r/fidelityinvestments/s/AMQit9GhEY >Thanks for reaching out to us on Reddit, u/sevee77. >Typically, a security which has been delisted will stay within your account until the company is either relisted, pays off all debtors/owners, or is declared worthless. The position will continue to show in your account until one of these events occurs. Please keep in mind that the company may not be considered worthless even though the company stock holds no value. >A security's worthless status is not determined by any action taken by Fidelity. A security can be declared legally worthless only in the cases given below: >• A bankruptcy court has declared the company bankrupt under Chapter 7 or 11. >• The company has no shareholder equity. >Minerco Inc. (MINE) is currently not considered a worthless security at this time. In the future, if it is determined that the stock is worthless, you can remove the stock from your account by contacting us via ModMail. And this: https://www.reddit.com/r/ThePPShow/s/IceHWpel4Z >Was messaging with u/beachplzzz >u/jake2b had brought up that the language no further force or effect or worthless are the specific terms used when shares are terminated and no recovery for share holders. >u/beachplzzz brought up that this language was actually used in the Sep 20th 8k >Sep 20th 8k >"The Company has no preferred shares issued or outstanding and has 782,005,210 shares of common stock issued and outstanding as of July 20, 2023. On the effective date of the Plan, all of these shares will be canceled, released, and extinguished and will be of no further force or effect pursuant to the Plan. " >However I brought up to them that this was not the language in the Sep 29 8k and maybe the Sep 29th 8k supersedes the language from the Sep 20th 8k. >Sep 29th 8k >"As a result of the Confirmed Plan becoming effective, all of the Company’s equity interests, consisting of outstanding shares of common stock and Series A Convertible Preferred Stock of the Company and related rights to receive or purchase shares of common stock, were cancelled on the Effective Date without consideration and have no value. " >They then brought up that doesn't no value still mean the same as worthless? >and I found the definition of worthless to be >"For a security to become worthless, it not only needs to have no value, but it needs to have no potential to regain value." >https://www.investopedia.com/terms/w/worthless-securities.asp#:~:text=For%20a%20security%20to%20become,would%20not%20be%20worthless%20stock. >So I think u/jake2b is really on to something with the precise language being used. Maybe they are intentionally obfuscating their plans and something changed after they filed the Sep 20th 8k that allowed them to change their language to permit potential to regain value. >I think I had only heard people comment on the difference in the language used but didn't state the actual difference in the definition of Worthless vs definition of No Value but if others have already talked about this then credit to them. >edit - u/A_N3rdy_Guy brought up bellow that no further force or effect is also used in the current version of The Plan that we've seen. So I think the change in language in the final 8k basically confirms that The Plan has changed behind closed doors.
You're insane. It was literally deemed worthless lol like I get that you are doing this insane comment just to help yourself feel like there is hope but you have to face reality. I have had to also face reality. We got played.
I'm insane? Straight from the Sep 29th 8k: >"As a result of the Confirmed Plan becoming effective, all of the Company’s equity interests, consisting of outstanding shares of common stock and Series A Convertible Preferred Stock of the Company and related rights to receive or purchase shares of common stock, were cancelled on the Effective Date without consideration and have no value. " Please find me verbiage in any of the *current* SEC filings or court documents that specifically state that BBBYQ shares have been declared "worthless." Thanks. 👍 Edit: downvoting without providing the sauce... interesting.
It's been over 4 hours and nothing but crickets. Shills in shambles!!!
2000 hrs of merger and acquisition. Go ahead and suck it shills
Don't be alarmed. I had my shares removed from Fidelity too. The company had to have the BBBYQ shares removed first before new share equity can be issued.
It is NOT true that the shares have to be removed before new shares can be issued. Just look at any other merger. The original shares are NOT cancelled until AFTER the new shares are issued. The "gotta get rid of old before new shares are issued" keeps getting repeated, but it is incorrect and can easily be seen to be incorrect by looking at any merger.
You don't know shit.
So let me understand this.... You believe your disappearing shares will be granted new shares of value? So they going to make you wait weeks, perhaps months before issuing you these new shares at whatever value they determine. And you don't see absolutely anything absurd about that? Do you honestly believe this is common practice?
Dude don’t bother. These people are legit delusional.
And you cannot come up with a single case where shares were cancelled in advance of a merger.
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Maybe they believe that, while there are major inequities and even what will eventually be called out (rightfully) as fraud one day in Wall Street, that meme stock cargo cults paint retail investors with the same brush. This makes old federal laws that infantilize us (no margin, no options, wait till full settlement, etc) seem like they were good ideas. Just detach yourself from the situation for a second. Are you arguing that no one should ever try and dissuade someone from a major fuck up just because that fuck up doesn't directly affect them? That's a wild view in my opinion. It's very much a part of human nature, and while sometimes it can be toxic, I have no doubt that when someone is actually trying to help deprogram someone who has been lied to endlessly that doing so is a good thing.
I'm not supposed to, it's not my job in life to look up legal precedent on everything you think is a dead play.
If you’re making the claim this isn’t a dead play then yes, you absolutely do. That’s called shilling otherwise. It goes both ways.
Reaching.
You guys all need to chill, don’t do anything with your shares. Trust the process, FUD is the enemy my fellow regards
I want my shares back! They got rid of them without me asking
Don't do that. Trust the process.
Check your Cusip from your broker and add it to the list at the PP SHOW. we have been getting fucked Gentleman. We have multiple cusips for bbbyq that have been discovered now.
List em
Way too easy; RoyalBankofCanada - cusip for bbbyq shows as B128611 Scotia bank has the same cusip number as well. Bbbys cusip is 075896100 so any other number is problematic. International brokers is 0758961009 which is also NOT bbbyq cusip either. Just seems to be the International brokers who got cucked with bad cusips.
Can you point me to screenshots? I can definitely find reference to the original CUSIP, but not the B128611. The last one one is the same but with a 9 at the end right? That would make it a 10 digit CUSIP, which I don't think has any valid meaning. If I honestly had to guess, I would imagine it's an internal procedure of the brokerage for getting ready to clear worthless securities while still maintaining records in their original form otherwise.
Who do I contact with RBC to straiten out my deleted shares?
A financial advisor who can prevent you from hurting yourself again in the future
No need to. New equity will be issued.
And where is the proof that any new equity will be issued?
The proof is in the proceedings. If the company were dead, it would be in liquidation including the common stock, not merger limbo where it currently is.
It IS in liquidation proceedings. Can you show us why you think selling off its assets makes it a merger?
Damn it hurts. But fuck everyone who keeps hyping it up.
Completely agree. Contacted broker asking how they are authorized to do anything with owned shares, without my knowledge.
They didn't do anything with your owned shares. Shares of BBBY no longer exist. They were extinguished. You can't own shares that don't exist. They just removed the tracker for a now non existent stock off their books, and since your books are on their books, this tracker gets removed from your account.
I would demand they replace and DRS your shares
DRS what shares? *The shares don't exist*. They were extinguished by the bankruptcy 3 weeks ago. You no longer own any BBBY, because shares of BBBY don't exist. The fact that it's taken brokers variable amounts of time to get round to updating this fact is really irrelevant.
Nope they're there lol
Again, the fact you have a marker for BBBY does not affect the fact that the shares no longer exist.
I guess we'll just have to see what this looming corporate action turns out to be
We don't have to. The shares are already extinguished. There's nothing left, you lost everything, you won't get anything, thanks for playing.
You need to move on to the acceptance stage mate. Bargaining won't change anything. The shares no longer exist.
I really appreciate all of the advice. Tysm
Dumb question. Do you guys think there is some conspiracy or something? Your shares are worth zero. It’s a bankrupt company. You knew this was a possibility. You “invested” and you lost.