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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Sapper MSG who wrote (1185)6/17/1998 7:26:00 PM
From: Carl Yee  Read Replies (2) | Respond to of 2506
 
Good question. I had a GTC buy to cover order on PAMCE. Today it was shown as canceled when PAMC was the new symbol on the BB. So I rentered a GTC BTC order on PAMC. I better check and see if I don't have 2 BTC orders really floating around in my brokers computer.

Sneaking suspicion: yes, you still have to cover even though the symbol changes.



To: Sapper MSG who wrote (1185)6/18/1998 4:47:00 AM
From: Q.  Respond to of 2506
 
re. <<. IF a stock changes names and symbols, do you have to cover the shorts?>>

Your short position continues unaffected, except that your broker will show it under a new symbol and co. name.

The situation is a non-event, but it arises fairly often. One very recent example that participants of this thread is IVI Publishing (IVIP) which just this week changed the corporate name to On Health Network and ticker symbol to ONHN.


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