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Posted On: 12/03/2024 2:08:00 PM
Post# of 32688
Interesting FWIW
My account in Webull which had 1 share left after RS has 0 shares now.
Dear Valued Client,
Please disregard the previous correspondence you received, which was sent in error. We sincerely apologize for any confusion this may have caused.
Regarding the 1-for-200 reverse stock split that became effective on 10/09/24, the following information is correct as it pertains to the shares of VERB held in your account.
The issuer has revised the processing instructions for the split. Initially, fractional shares were rounded up to the nearest whole share. Going forward, fractional shares will instead be paid out as cash in lieu. Our clearing firm will reprocess the event to reflect this update, which may result in one fewer share of VERB in your account.
If you liquidated your entire position based on the original rounded-up shares, this adjustment may create a short position in your account. Please note that short positions are not permitted in either cash accounts or margin accounts with less than $2,000 in equity. To rectify this, we encourage you to cover any short position or, if applicable, increase your margin account equity to meet the $2,000 minimum.
Please be aware that we reserve the right to take action at any time to address accounts that may be nearing an unsecured balance.
We appreciate your prompt attention to this matter. If you have any questions, our support team is here to help. You can reach us at 888-828-0618 or via email at support@webull.com.
Thank you for your understanding.
Best regards,
Webull Support
My account in Webull which had 1 share left after RS has 0 shares now.
Dear Valued Client,
Please disregard the previous correspondence you received, which was sent in error. We sincerely apologize for any confusion this may have caused.
Regarding the 1-for-200 reverse stock split that became effective on 10/09/24, the following information is correct as it pertains to the shares of VERB held in your account.
The issuer has revised the processing instructions for the split. Initially, fractional shares were rounded up to the nearest whole share. Going forward, fractional shares will instead be paid out as cash in lieu. Our clearing firm will reprocess the event to reflect this update, which may result in one fewer share of VERB in your account.
If you liquidated your entire position based on the original rounded-up shares, this adjustment may create a short position in your account. Please note that short positions are not permitted in either cash accounts or margin accounts with less than $2,000 in equity. To rectify this, we encourage you to cover any short position or, if applicable, increase your margin account equity to meet the $2,000 minimum.
Please be aware that we reserve the right to take action at any time to address accounts that may be nearing an unsecured balance.
We appreciate your prompt attention to this matter. If you have any questions, our support team is here to help. You can reach us at 888-828-0618 or via email at support@webull.com.
Thank you for your understanding.
Best regards,
Webull Support
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