So what happpens next with BBBY?
So what happpens next with BBBY?
Hey guys I have some shares of bbby bought in Trading 212 app and I just wanted to ask what happens next? I'm from central Europe and I have not received any e-mail or any in app message about my shares being taken/sold like some of you guys have. The only thing that's changed is that the buying option is no longer possible and the price has stopped moving since 12th September.
The stock has moved to expert market which retail cannot buy on after the SEC changed rules back in 2021. Many people are DRSing to prevent their broker from force liquidation however I am not sure how it works on Trading 212.
We are currently waiting on an updated plan to see if we are going to be liquidated which as of the recent 8k we may have an effective date of September 30.
I was thinking that I will DRS my shares via Computershare. Any thoghts on this?
The transfer agent for BBBYQ is AST not computershare which sadly they are not as good as CS. I DRSd a large portion +95% of mine just to be safe. After seeing how much DRS is suppressed and how it gives me clear ownership of my shares especially when the stock is heavily naked short. It is up to you to decide what is the best way and what you are comfortable with.