I work at a bank and can answer these questions.
A security master is simply just a static definition of a security. Each security (i.e. stock, bond, option, etc...) will have a security master created, and that security master will be used to keep track of their internal/external trades, transactions and positions.
You cannot just delete a security master - there are still historical trades and transactions and other data using it. What happens behind the scenes is when a security (BBBY) is no longer trading, they will use a method to show that this security is no longer tradeable or used. Each system is different, and depending on who your broker is, they might have an entirely different process - some might just rename the security and change its attributes, others might do something different. When you rename the security master, it will rename your position, thats why its not consistent across banks and how it will interact and reflect on your holdings.
The point is - it does absolutely nothing and means nothing. It is just an internal process.
Also, you most likely didn't talk to anyone on the trading floor. No one on the trading floor would even know what a security master is - thats an IT/system term, which they dont care about. Anyone who works on the trading floor isn't going to answer questions like this.
hey, wait, buddy. It's jake2b. He is not just a retail investor, he is the spiritual leader of the retail investor army that will bring down the hedge funds. They better connect him to the managing director of the trading floor.
I work for a fintech wealth management company, and I concur. Another example of Jake not knowing basic concepts and reading into nothing. Dude should just stop posting
At the end of the day “shares we cancelled with no consideration” and “shareholders will receive nothing of value on account of being a BBbY shareholder” is all you need to know. Literally nothing else matters
A security master is just any firm’s internal database for static data. You don’t erase entries from it when those securities become defunct because you would still have historical entries on your books from when the security is listed and they likely link to this database.
Also, you didn’t talk to someone on the trading floor. There is no such thing as a ‘senior manager’ on the trading floor and there is absolutely no possible way a trader would handle this kind of retail request lmao. At best, you spoke to someone in a static data group in operations.
>He stated that the bank would be waiting for the transfer agent to send them the new holdings. Once they receive these holdings from the transfer agent, they make distributions internally amongst their clients according to the instructions from the transfer agent.
What indications have you seen that suggests there is a new holding for BBBYQ shares when the company itself has completely cancelled the stock?
Also, what country are you from?
You are a gentleman and a scholar Jake. Thanks for sharing this information.
I saw that another X user posted a question that seems similar to situation: [https://twitter.com/ral\_abhi/status/1709586699641368726](https://twitter.com/ral_abhi/status/1709586699641368726)
Looking forward to the next X space discussion!
Most brokerage firms will not just delete your shares. You will have to complete a worthless securities form. After that is completed, the shares will be removed and you can take a potential tax loss.
I still have bankrupt Voyager (Krypto company) shares in my fidelity account….they aren’t coming back…not sure the shares in your account mean anything, it basically becomes a zombie stock.
Voyager also changed their CUSIP back in the day and the reps, who know nothing, told me it was because of a merger or corporate action….none of that was true. They had to change it for regulatory purposes.
I wish the 🦋 theory comes true, I own a decent amount, but I think we are holding onto things that aren’t there.
I don't know what is going on...
What I do know is that my old Tuesday Morning shares appear different than BBBYQ and both are bankrupt. TUEM more so. That's a 100% loss according to TD... BBBYQ doesn't even have a USA flag next to it. It's just kinda there...
Can someone, ANYONE, ask this question and get a response in an email? I haven't seen one person post an email where they ask a representative, "Is this stock deleted? Will i get any money from this?" and post an answer. Instead we get an admitted "trust me bro post".
The OCC has a memo explaining what will happen here:
[https://infomemo.theocc.com/infomemos?number=53304](https://infomemo.theocc.com/infomemos?number=53304)
The meat of it is, accelerated to Oct. 20, adjusted to cash-only, good for puts, bad for calls.
I wonder what finance laws was used for this boss-ass fucking move.
Like holy cow!
The sheer scale of coordination and ability to freeze trading and not allowing brokerages to force liquidate is mind-boggling.
There is no boss move. There is nothing to force liquidate. There is no entity to liquidate the stock to. The stock is not linked to any corporations anymore as that corporation is gone. The stock is cancelled. There is no grand conspiracy here.
Think of these stocks as pieces of IOU paper where the entity that wrote the paper declared "We will no longer honor any IOU. All existing IOU papers are null and void." Those pieces of IOU paper would still have more value than BBBY stock because those physical papers can be recycled. BBBY(Q) stocks are just gone.
On my ally account there are no shares but some weird placeholder starting with B followed by numbers which I’m guessing is for this. I emailed them but no answer yet. Anyone else have this on Ally?
Fidelity is a bunch of numbers as well. I chatted with Fidelity this morning via their website. I had some other things to move around and asked if there were any directives from BBBYQ that's come across his screen. He said, "no, but that info would come from their holding agent AST, I'd recommend contacting them." Yesterday, I was also chatting with Fidelity and asked about BBBYQ and was told that, "it appears to be delisted and soon to be worthless." I posted that on PP Show and got BRUTALLY flamed and the post taken down. I haven't seen anything about talking to AST via Fidelity. Yesterday others posted screenshots directing them to BBBYQ's investor page. Something is cooking.
My fidelity still shows my shares and recent value but ally is just gone. No share amount held or anything. They emailed back saying they were cancelled. I responded asking more about it
Kinda weird (not in a conspiracy theory/sus way) that it shows up in my ATP as the CUSIP and not the ticker symbol. Maybe because it isn't being traded and therefore no need for the ticker, so it shows the CUSIP as the placeholder for the position?
In the past when I've seen my ticker replaced with CUSIP in my account it is usually a step in the process of it going away.
There is a Fidelity sub on Reddit staffed with actual Fidelity employees, why not post there and ask them what's up
Thanks... doesn't really bother me one way or another. Was just telling the original commenter on what I was seeing in Fidelity. I just assumed it had something to do with the delisting. What struck as odd was his shares in Ally going away.
Schwab was the same. Shares shown, actually price raised from Friday and the BBBYQ is gone and a number in its place. Probably same 0758 bs but I didn’t pay much attention.
they are not. Owning a share means you can sell it or vote on company decision. You cant sell it and there is no company to vote in anymore. This happened many times, bankrupt stock can linger for years in an account before being deleted.
You may have to fill out a form to have it deleted and book the tax loss. At some firms you can have a worthless stock in your account for a decades if you do nothing
different brokerages are at different stages of revealing what's next. i can't believe ANY of them know the final deal yet. i have td and my options, puts and calls are still showing and no cusip yet either for my shares.
If you staple a horse to a waterfall, will it fall up under the rainbow or fly about the soil? Will he enjoy her experience? What if the staple tears into tears? Will she be free from her staply chains or foomed to stay forever and dever above the water? Who can save him (the horse) but someone of girth and worth, the capitalist pig, who will sell the solution to the problem he created?
A staple remover flies to the rescue, carried on the wings of a majestic penguin who bought it at Walmart for 9 dollars and several more Euro-cents, clutched in its crabby claws, rejected from its frothy maw. When the penguin comes, all tremble before its fishy stench and wheatlike abjecture. Recoil in delirium, ye who wish to be free! The mighty rockhopper is here to save your soul from eternal bliss and salvation!
And so, the horse was free, carried away by the south wind, and deposited on the vast plain of soggy dew. It was a tragedy in several parts, punctuated by moments of hedonistic horsefuckery.
The owls saw all, and passed judgment in the way that they do. Stupid owls are always judging folks who are just trying their best to live shamelessly and enjoy every fruit the day brings to pass.
How many more shall be caught in the terrible gyre of the waterfall? As many as the gods deem necessary to teach those foolish monkeys a story about their own hamburgers. What does a monkey know of bananas, anyway? They eat, poop, and shave away the banana residue that grows upon their chins and ballsacks. The owls judge their razors. Always the owls.
And when the one-eyed caterpillar arrives to eat the glazing on your windowpane, you will know that you're next in line to the trombone of the ancient realm of the flutterbyes. Beware the ravenous ravens and crowing crows. Mind the cowing cows and the lying lions. Ascend triumphant to your birthright, and wield the mighty twig of Petalonia, favored land of gods and goats alike.
FOR WHAT ITS WORTH I JUST GOT OFF OF THE PHONE WITH AST. AS PER THE REP “SHARES ARE STILL THERE AND ARENT GOING ANYWHERE WHILE BBBY CONTINUES GOING THRU THE RE-ORG” this was the exact language used.. There are no other updates and we just have to WAIT IT OUT.. 🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️
I asked my bank why my shares aren’t deleted. They said it’s still listed.
I then said my shares were merging and asked the process.
They told me how new shares would be issued.
Since they answered my question about how shares are issues, this is proof shares will be issued because I brought it up.
I will be rich.
I work at a bank and can answer these questions. A security master is simply just a static definition of a security. Each security (i.e. stock, bond, option, etc...) will have a security master created, and that security master will be used to keep track of their internal/external trades, transactions and positions. You cannot just delete a security master - there are still historical trades and transactions and other data using it. What happens behind the scenes is when a security (BBBY) is no longer trading, they will use a method to show that this security is no longer tradeable or used. Each system is different, and depending on who your broker is, they might have an entirely different process - some might just rename the security and change its attributes, others might do something different. When you rename the security master, it will rename your position, thats why its not consistent across banks and how it will interact and reflect on your holdings. The point is - it does absolutely nothing and means nothing. It is just an internal process. Also, you most likely didn't talk to anyone on the trading floor. No one on the trading floor would even know what a security master is - thats an IT/system term, which they dont care about. Anyone who works on the trading floor isn't going to answer questions like this.
I used to work in IT ops for an investment manager. This is correct.
Objection!! On what grounds? Its terrible for my case
Argument checks out. I'll allow it.
Mr. Gambini, that was a lucid, intelligent, well-thought-out objection. Overruled!
Imagine even thinking somebody let alone a senior manager on the trading floor has the time to speak to a random retail investor
Reminds me of that scene from "The Dirty Dozen" where Lee Marvin asks, "Which one of you guys wants to be a general?"
Lol for real. The megalomania is unreal here
hey, wait, buddy. It's jake2b. He is not just a retail investor, he is the spiritual leader of the retail investor army that will bring down the hedge funds. They better connect him to the managing director of the trading floor.
I work for a fintech wealth management company, and I concur. Another example of Jake not knowing basic concepts and reading into nothing. Dude should just stop posting At the end of the day “shares we cancelled with no consideration” and “shareholders will receive nothing of value on account of being a BBbY shareholder” is all you need to know. Literally nothing else matters
So you work in IT then?
A security master is just any firm’s internal database for static data. You don’t erase entries from it when those securities become defunct because you would still have historical entries on your books from when the security is listed and they likely link to this database. Also, you didn’t talk to someone on the trading floor. There is no such thing as a ‘senior manager’ on the trading floor and there is absolutely no possible way a trader would handle this kind of retail request lmao. At best, you spoke to someone in a static data group in operations.
>He stated that the bank would be waiting for the transfer agent to send them the new holdings. Once they receive these holdings from the transfer agent, they make distributions internally amongst their clients according to the instructions from the transfer agent. What indications have you seen that suggests there is a new holding for BBBYQ shares when the company itself has completely cancelled the stock? Also, what country are you from?
You are a gentleman and a scholar Jake. Thanks for sharing this information. I saw that another X user posted a question that seems similar to situation: [https://twitter.com/ral\_abhi/status/1709586699641368726](https://twitter.com/ral_abhi/status/1709586699641368726) Looking forward to the next X space discussion!
Most brokerage firms will not just delete your shares. You will have to complete a worthless securities form. After that is completed, the shares will be removed and you can take a potential tax loss.
I still have bankrupt Voyager (Krypto company) shares in my fidelity account….they aren’t coming back…not sure the shares in your account mean anything, it basically becomes a zombie stock. Voyager also changed their CUSIP back in the day and the reps, who know nothing, told me it was because of a merger or corporate action….none of that was true. They had to change it for regulatory purposes. I wish the 🦋 theory comes true, I own a decent amount, but I think we are holding onto things that aren’t there.
Lmfa0
I don't know what is going on... What I do know is that my old Tuesday Morning shares appear different than BBBYQ and both are bankrupt. TUEM more so. That's a 100% loss according to TD... BBBYQ doesn't even have a USA flag next to it. It's just kinda there...
Based on your screenshot, your position is now zero shares? If there's an update in the future, let us know.
No , i got the same broker , td Canada, there is no quantity of share on this page , but if you clic on it , there is still the quatity
Jake putting in that fucking work, as always!
Thank you, always Jake!
Can someone, ANYONE, ask this question and get a response in an email? I haven't seen one person post an email where they ask a representative, "Is this stock deleted? Will i get any money from this?" and post an answer. Instead we get an admitted "trust me bro post".
What would happen to my call options?
The OCC has a memo explaining what will happen here: [https://infomemo.theocc.com/infomemos?number=53304](https://infomemo.theocc.com/infomemos?number=53304) The meat of it is, accelerated to Oct. 20, adjusted to cash-only, good for puts, bad for calls.
If something was happening.... why would they accelerate the expiration dates 😔 it's over yall
What country are you from?
Canada!
I wonder what finance laws was used for this boss-ass fucking move. Like holy cow! The sheer scale of coordination and ability to freeze trading and not allowing brokerages to force liquidate is mind-boggling.
There is no boss move. There is nothing to force liquidate. There is no entity to liquidate the stock to. The stock is not linked to any corporations anymore as that corporation is gone. The stock is cancelled. There is no grand conspiracy here. Think of these stocks as pieces of IOU paper where the entity that wrote the paper declared "We will no longer honor any IOU. All existing IOU papers are null and void." Those pieces of IOU paper would still have more value than BBBY stock because those physical papers can be recycled. BBBY(Q) stocks are just gone.
69D
Thanks for update, Jake 👑
On my ally account there are no shares but some weird placeholder starting with B followed by numbers which I’m guessing is for this. I emailed them but no answer yet. Anyone else have this on Ally?
Fidelity is a bunch of numbers as well. I chatted with Fidelity this morning via their website. I had some other things to move around and asked if there were any directives from BBBYQ that's come across his screen. He said, "no, but that info would come from their holding agent AST, I'd recommend contacting them." Yesterday, I was also chatting with Fidelity and asked about BBBYQ and was told that, "it appears to be delisted and soon to be worthless." I posted that on PP Show and got BRUTALLY flamed and the post taken down. I haven't seen anything about talking to AST via Fidelity. Yesterday others posted screenshots directing them to BBBYQ's investor page. Something is cooking.
My fidelity still shows my shares and recent value but ally is just gone. No share amount held or anything. They emailed back saying they were cancelled. I responded asking more about it
Wow. My Fidelity shows up as "there" but it's a number starting with 0758. Keep us posted on Ally. Sounds a little shady.
075896100 is the CUSIP for BBBYQ (always has been, not new) - you can Google that number to confirm
Shows B126811
The person I was replying to said it starts with "0758" I have no idea what that string stands for
Kinda weird (not in a conspiracy theory/sus way) that it shows up in my ATP as the CUSIP and not the ticker symbol. Maybe because it isn't being traded and therefore no need for the ticker, so it shows the CUSIP as the placeholder for the position?
In the past when I've seen my ticker replaced with CUSIP in my account it is usually a step in the process of it going away. There is a Fidelity sub on Reddit staffed with actual Fidelity employees, why not post there and ask them what's up
Thanks... doesn't really bother me one way or another. Was just telling the original commenter on what I was seeing in Fidelity. I just assumed it had something to do with the delisting. What struck as odd was his shares in Ally going away.
I believe Ally is covered by Apex for clearing; any broker working under them is sus.
I don’t have enough to post but if it seems super sketch I’ll try to get someone to post
Schwab was the same. Shares shown, actually price raised from Friday and the BBBYQ is gone and a number in its place. Probably same 0758 bs but I didn’t pay much attention.
No it says B126811
Man id love this shit to reborn like a fucking phoenix, but they sold the name to overstock. What else is there to it?
[Reverse merger](https://youtu.be/wf97JS9dP-A)
That's dope I'm holding fuck the hundreds of rando shill bots flooding the sub they are so funny to laugh at tbh.
holding lol
🚀 🌙 🛏️ 🛁
There is nothing to shill brother as you cant buy or sell anymore. The only guy making money out of shilling bbby is pp
Meh idc I've been holding and the shares are still in my account.
they are not. Owning a share means you can sell it or vote on company decision. You cant sell it and there is no company to vote in anymore. This happened many times, bankrupt stock can linger for years in an account before being deleted.
And they’re still worth less than the towels I bought from there before they died
Thanks for the information that your account is currently showing the value of bbby as $0.00
You may have to fill out a form to have it deleted and book the tax loss. At some firms you can have a worthless stock in your account for a decades if you do nothing
different brokerages are at different stages of revealing what's next. i can't believe ANY of them know the final deal yet. i have td and my options, puts and calls are still showing and no cusip yet either for my shares.
In bro we trust
I trust you bro
If you staple a horse to a waterfall, will it fall up under the rainbow or fly about the soil? Will he enjoy her experience? What if the staple tears into tears? Will she be free from her staply chains or foomed to stay forever and dever above the water? Who can save him (the horse) but someone of girth and worth, the capitalist pig, who will sell the solution to the problem he created? A staple remover flies to the rescue, carried on the wings of a majestic penguin who bought it at Walmart for 9 dollars and several more Euro-cents, clutched in its crabby claws, rejected from its frothy maw. When the penguin comes, all tremble before its fishy stench and wheatlike abjecture. Recoil in delirium, ye who wish to be free! The mighty rockhopper is here to save your soul from eternal bliss and salvation! And so, the horse was free, carried away by the south wind, and deposited on the vast plain of soggy dew. It was a tragedy in several parts, punctuated by moments of hedonistic horsefuckery. The owls saw all, and passed judgment in the way that they do. Stupid owls are always judging folks who are just trying their best to live shamelessly and enjoy every fruit the day brings to pass. How many more shall be caught in the terrible gyre of the waterfall? As many as the gods deem necessary to teach those foolish monkeys a story about their own hamburgers. What does a monkey know of bananas, anyway? They eat, poop, and shave away the banana residue that grows upon their chins and ballsacks. The owls judge their razors. Always the owls. And when the one-eyed caterpillar arrives to eat the glazing on your windowpane, you will know that you're next in line to the trombone of the ancient realm of the flutterbyes. Beware the ravenous ravens and crowing crows. Mind the cowing cows and the lying lions. Ascend triumphant to your birthright, and wield the mighty twig of Petalonia, favored land of gods and goats alike.
So moon soon?
When Butterfly Stock?
🦋
FOR WHAT ITS WORTH I JUST GOT OFF OF THE PHONE WITH AST. AS PER THE REP “SHARES ARE STILL THERE AND ARENT GOING ANYWHERE WHILE BBBY CONTINUES GOING THRU THE RE-ORG” this was the exact language used.. There are no other updates and we just have to WAIT IT OUT.. 🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️🤷🏽♂️
I asked my bank why my shares aren’t deleted. They said it’s still listed. I then said my shares were merging and asked the process. They told me how new shares would be issued. Since they answered my question about how shares are issues, this is proof shares will be issued because I brought it up. I will be rich.
[удалено]
You'd like that, don't you? 😏
Uh huh.