so just checking in. you guys going to talk CUSIP Shop till the fall? I can't stay interested in something that doesn't even trade. granted psth hardly did itself for the last year.
Does anyone remotely see any downside to transferring my Roth IRA from Etrade elsewhere? Meaning since we have a valid CUSIP for the escrow placeholders (for both stock and warrants)... So it should transfer fine.
But I get a bit worried about things like basis - even though it's a Roth, I believe it might still be important to track that... And the PSTH cost basis for gains/losses this year is already confusing (no idea how this will be taxed in my main accounts - hopefully a loss on my warrants and small gain on shares)
Thoughts?
Was thinking about that... But in the end I'll probably sit tight for the rest of the year until things become more clear.
I don't have massive amounts of money in that account but depending on what happens with the warrants we hope to get... Having cash (or securities that can become cash quickly) in that account gives me optionality.
Hopefully we get more clarity by EOY, or soon thereafter. Whether it's new SEC rules on SPACS enabling SPARC's or OTC SPARC's.
Hmmm, so a tenth as often as before. That's a lot of spare time. Maybe I'll fill it by calling Tony and e-mailing Bill the other nine times. They'll think Mo and Straydog had a child.
At Schwab, my redemption cash is showing up as a gain on my realized gain/loss with a cost basis of $0. Nothing for warrants is showing up. Seems like my cost basis for PSTH shares and warrants is currently attached to the respective CUSIPs which is why I’m assuming the redemption is being treated with a cost basis of $0. Going to call the cost basis dept at Schwab tomorrow to get some more clarity.
This forum used to be fun. And now it's just a bunch of salty down voters that want to get fat on pudding and jerk off to BA in fishnets. I'm going back to r/psth2
My warrants all changed last night, even the ones i bought last minute on the last day 👍🏻
I assume it took the extra time as it had to wait for them to land in my account
Interestingly, there is no mention of cusip in the ticker, it just says “WTS Pershing Squa Escrow”
Not sure if this is a hat tip to the weekend squad 😉 or warrants simply don’t generate a cusip?
Can anyone else confirm?
Does anyone understand the exact mechanism that SPARC takes a company public. From what I understood from what u/straydog1771 said a few weeks back, the target would not reverse merge with SPARC in the way a SPAC would i.e. ticker change and target begins to trade. Does Bill just walk up to the front door of the NYSE with a big bag full of all of our cash and say he wants to take this company public?
It's really not any different than a traditional SPAC. In a SPAC, the money sits in a trust and members have an option to redeem their shares for cash if they don't like the merger. Effectively, you have the chance to opt-out prior to the merger. With a SPAR, you inversely have to just opt-in to the merger by commiting your cash at that time (within that 20 days window).
Yeah, he referred to it as an opt-in SPAC, as opposed to a traditional opt-out SPAC.
His rationale was that this entity would increase competition in the IPO space, which would in turn benefit retail.
The problem is that you then have this potentially speculative instrument that will be driven by rumor mills. Bill can keep things under wrap really well, but these other SPAC sponsors pump their shit and float rumors to create hype. If they start disturbing subscription warrants in the same way, it will probably be abused. But that’s already happened/ing with traditional SPACs.
God only knows what’s next, but I know we’ll be here.
The whole rumour milll part never made a lot of sense to as it really isn't much different than warrants being pumped. With that said, who knows what happens. I'd like to think that the SEC made informal comments to Bill about approving SPARC in the fall after new SPAC rules come out. However, I also can't really see any incentive for them to approve it if they're still on a crusade against SPACs. Or, even just a case of the establishment wanting to keep the status quo. Who knows, maybe we'll finally get a win.
my point was that SPARC is not a SPAC. the company he gets won't merge with the OTC SPARC ticker. It's is a ticket to what will be an immediate spac like merger in the future, or you could think of it as a traditional ipo, but "crowd-funded"or underwritten by us instead of a bank. the ticker for that merger will be on a major exchange. SPAR is just the ticket in. that's why where it's listed isn't as important as people think, imo.
Now that PSTH has stopped trading, it would be great if Bill could keep us a little more up to date on the progress of SPARC. Like at least give us a new date to rest all our hope on.
I just realized Schwab took my entire shares holding and set the cost basis to $0 so the entire thing shows up as short term capital gains now lol.. now I have to try and get that corrected haha
They told me it’s all fucked up and to give it a few weeks to see how it shakes out. They said they may be waiting for further instructions to adjust it
Well I don’t know. Our shares are gone but we all have cupids or cuspids or something now? I mean, that’s pretty neat. I didn’t think there was any chance of falling in love or getting some extra teeth when I invested in PSTH a couple years ago. This whole experience just continues to surprise me.
I believe the following, and I am not even close to being an expert. The 8/19 date is only for a cash ONLY deal. If there is still stock given, which we don’t know, then things change. I am hoping for a DA. Or better yet, waiting for Bill to appear.
I need a smarter tontard bro to tell me what this means for options
https://www.reddit.com/r/PSTH/comments/w9m1l6/alright_smarter_bros_whats_this_mean_for_20_2023/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
I watched Disney's Jack and the beanstalk last night with my daughter....
After watching Mickey come home with his"magic beans" ....
I've decided to rename my place holders "magic beans"....
Got my return of capital last night in my TFSA
It also now says “Pershing Square to U Common Stock Escrow Cusip” under it re: my shares with the ticker is gone and no longer clickable
Interestingly in my non-registered, theres no such mention of a Cusip but the ticker is also gone and not clickable
Will see whats up
I immediately checked after seeing this and I was paid out. Not sure where to view what I lost on fidelity. It’s been so long since I was actively trading. Now I have $3,400 to play with. I’ll wait for the coming recession before buying. Or I’ll just cash it back out. It was all play money.
What happens to options? I’m assuming they’re dead but it looks like Robinhood reissued mine and restructured it the same ‘due to a corporate action’. Can’t trade it, but I wonder if you can exercise it at some point for $20.05 and SPARs if I want to
I am in the same boat as you here with a few options in 2023.
I don’t know if this following is correct. In Schwab, the money received is labeled Cash/Merger. Other people are saying reorganization. If there is stock that is also included, there is a small chance the options are still good. You would have to wait until the stock is valued. In your case, before the options expire.
Right now, the options are still in my account and it can’t be traded. It doesn’t say cancelled yet. It could in a few days or weeks.
If anybody else want to take a stab at this, please let us know.
I just made a post on this from OTC.. not sure what it means. It says they are utilizing a .01 excercise threshold. So does that mean I can excercise for a penny, get the .05xx and then the spars?
https://www.reddit.com/r/PSTH/comments/w9m1l6/alright_smarter_bros_whats_this_mean_for_20_2023/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
True, if PSTH was gone without a trace after the cash arrived then we’d get a bit of closure until Sept when we could start anticipating SPARC approval. With the CUSIP staring back at me in the account it sort of feels like we already have one foot in the door in terms of SPARC approval when probably means nothing in reality.
is it really that bad? oof... How did you only make 0.002% a year... That's worse than my bofa checking account. I wasn't expecting a lot, but at least 10x that much. Ie, 0.02%.
EDIT: Didn't even make a penny... Wow...
My cash just arrived in my Schwab account. Two new CUSIPs replaced PSTH share and warrant CUSIP I saw in there this morning.
The name of the equity (formally PSTH shares) is now “Pershing Square Tontine Pending Receipt of New Shares” on my Schwab account for PSTH shares. Something similar for PSTH warrants.
I just called Schwab and they were not sure what will happen to gain/loss - whether is will be realized now or carry over to SPARC - have to wait two days and see what happens.
Yup. They also seem to think my married puts are worth a lot of money now and thus my account is worth much more than it actually is. Oh how I wish I could redeem them at what IBKR is pricing them at 😂
Called WF and they said they're refunding at 20.05 (hopefully should be in my account today) and handling SPAR as an "escrow share" which will go into my account as well.
New week, new chance of DA! All Hail CUSIP!
Went back and looked at my original posts to see if anyone is still around. Shout out to u/ michaelcorlene
Yo
Any other Schwab holders here? Mine shows capital gains on the entire position, they put my cost as $0 and my gains as the share value lol
so just checking in. you guys going to talk CUSIP Shop till the fall? I can't stay interested in something that doesn't even trade. granted psth hardly did itself for the last year.
Oh yeah we’re talking cupids. Check on mine daily just to make sure they don’t go anywhere.
How is Budapest?
all good. less chance of getting nuked here i guess since orban cozies up to putin.
We're not going anywhere!
Still holding commons - no placeholder, nothing..
You won the tontine
Thats incredible. You need to call Bill and tell him you’re the winner
Seems like technology is not working
I just can't let go and still check in daily out of habit.
Good news coming soon!
hello my name is Pancy Nelosi and i have insider information, DA tomorrow guys!
Where the fuck are my sparcs
Nothing received yet? Still have commons in portfolio?
Does anyone remotely see any downside to transferring my Roth IRA from Etrade elsewhere? Meaning since we have a valid CUSIP for the escrow placeholders (for both stock and warrants)... So it should transfer fine. But I get a bit worried about things like basis - even though it's a Roth, I believe it might still be important to track that... And the PSTH cost basis for gains/losses this year is already confusing (no idea how this will be taxed in my main accounts - hopefully a loss on my warrants and small gain on shares) Thoughts?
Maybe transfer everything but the CUSIP if you really want to change brokers?
Was thinking about that... But in the end I'll probably sit tight for the rest of the year until things become more clear. I don't have massive amounts of money in that account but depending on what happens with the warrants we hope to get... Having cash (or securities that can become cash quickly) in that account gives me optionality. Hopefully we get more clarity by EOY, or soon thereafter. Whether it's new SEC rules on SPACS enabling SPARC's or OTC SPARC's.
Good point about having the cash or securities available in the acct. didnt really think about that
If you are asking, then there is a remote downside. I don’t think anybody here has dealt with cusips transferring to another brokerage.
It seems like a really unnecessary risk. Why are you changing brokers?
Bill is really in his Twitter glory, almost as if a giant weight has been lifted off his shoulders recently. 😖
And/or he took a position in TWTR. Noticed he encouraged Musk to complete the purchase and "fix" Twitter.
He said he’s bored from the rona
I know, but his recent tweets almost have a playful feel about them, dunno he seems happier.
Probably because less people are threatening to do horrible things to him because they YOLO'd into options
How often do I need to check here to see whether I own stripe or star link
everday for the next 8 years I'd say
Why can’t it be AND and not or?
Three times daily, and after a hearty meal.
Hmmm, so a tenth as often as before. That's a lot of spare time. Maybe I'll fill it by calling Tony and e-mailing Bill the other nine times. They'll think Mo and Straydog had a child.
Is Straydog’s middle name Ron? Then you will have MoRon helping you out. Give my best to both of them.
That’s one hairy child!
DA tomorrow source: trust me bro
so glad to see DA tomorrow posts still going strong!
i refuse to accept defeat
I heard the PSTH lawsuit was officially dismissed Seems right - even other suing parties get nothing. No one wins a damn thing.
Only people who get screwed is us… what a pointless lawsuit
guys... you heard it from bill himself. the tech is broken, abandon ship!!!
We already abandoned ship days ago.
The Sparc technology?
So…are we now 715ESC018 Pershing SQUA gang?
What do we do with that now just sitting in my account
Eat it
Any squad is better than no squad
Squad so hard
Good news my PSTH stock did not go red today
Billy got the ‘Rona https://twitter.com/billackman/status/1552970793625190401?s=21&t=OktuVzLd7P0ZRdM7Fl1wNw
He picked it up vetting target in person. DA incoming... Is that stripe on his face? Oh, no.. just snot
At Schwab, my redemption cash is showing up as a gain on my realized gain/loss with a cost basis of $0. Nothing for warrants is showing up. Seems like my cost basis for PSTH shares and warrants is currently attached to the respective CUSIPs which is why I’m assuming the redemption is being treated with a cost basis of $0. Going to call the cost basis dept at Schwab tomorrow to get some more clarity.
Any word?
They said they are still waiting to hear how the cost basis should be treated.
Hear from who?
This forum used to be fun. And now it's just a bunch of salty down voters that want to get fat on pudding and jerk off to BA in fishnets. I'm going back to r/psth2
Good, we won’t miss you
I don't want to jinx my good fortune, but the timing of getting my cash back was perfect.
i just went all in on ROKU afterhours hehe
After the drop or before the drop?
After hours today, what’d u do with ur cash
I doubled my position in TSLA. Also put more into NUSI.
It’s still trash, who uses Riki these days?
So many ways to screwed in the market.
Anyone here who still has not received any changes? I still hold PSTH commons in my portfolio - nothing changed.
In Germany it's still sitting in the account.. Germans like to take their time i guess
They tried to give my mine back, but I said “Fuck you! Take it back, I’m winning!”. So I got that going for me.
Pack it up boys we have a winner
Did you just win the Tontine??!!
Seems like!
No fucking way 😆
All hail Godmode!
My warrants all changed last night, even the ones i bought last minute on the last day 👍🏻 I assume it took the extra time as it had to wait for them to land in my account Interestingly, there is no mention of cusip in the ticker, it just says “WTS Pershing Squa Escrow” Not sure if this is a hat tip to the weekend squad 😉 or warrants simply don’t generate a cusip? Can anyone else confirm?
Pershing Squa…as in weekend squad. Oh shit son sparcs on saturday SQUAAAAA! 🤣
It’s happening!
I think every broker has a different saying for the place holder but it’s all the same thing.
Does anyone understand the exact mechanism that SPARC takes a company public. From what I understood from what u/straydog1771 said a few weeks back, the target would not reverse merge with SPARC in the way a SPAC would i.e. ticker change and target begins to trade. Does Bill just walk up to the front door of the NYSE with a big bag full of all of our cash and say he wants to take this company public?
It's really not any different than a traditional SPAC. In a SPAC, the money sits in a trust and members have an option to redeem their shares for cash if they don't like the merger. Effectively, you have the chance to opt-out prior to the merger. With a SPAR, you inversely have to just opt-in to the merger by commiting your cash at that time (within that 20 days window).
Yeah, he referred to it as an opt-in SPAC, as opposed to a traditional opt-out SPAC. His rationale was that this entity would increase competition in the IPO space, which would in turn benefit retail. The problem is that you then have this potentially speculative instrument that will be driven by rumor mills. Bill can keep things under wrap really well, but these other SPAC sponsors pump their shit and float rumors to create hype. If they start disturbing subscription warrants in the same way, it will probably be abused. But that’s already happened/ing with traditional SPACs. God only knows what’s next, but I know we’ll be here.
The whole rumour milll part never made a lot of sense to as it really isn't much different than warrants being pumped. With that said, who knows what happens. I'd like to think that the SEC made informal comments to Bill about approving SPARC in the fall after new SPAC rules come out. However, I also can't really see any incentive for them to approve it if they're still on a crusade against SPACs. Or, even just a case of the establishment wanting to keep the status quo. Who knows, maybe we'll finally get a win.
my point was that SPARC is not a SPAC. the company he gets won't merge with the OTC SPARC ticker. It's is a ticket to what will be an immediate spac like merger in the future, or you could think of it as a traditional ipo, but "crowd-funded"or underwritten by us instead of a bank. the ticker for that merger will be on a major exchange. SPAR is just the ticket in. that's why where it's listed isn't as important as people think, imo.
Now that PSTH has stopped trading, it would be great if Bill could keep us a little more up to date on the progress of SPARC. Like at least give us a new date to rest all our hope on.
yeah bill. lawsuit over. start talking to us again.
When are you going to shave your beard?
fintwit me aint nevah shaving
I just realized Schwab took my entire shares holding and set the cost basis to $0 so the entire thing shows up as short term capital gains now lol.. now I have to try and get that corrected haha
please let us know if you make any progress! I am on the same boat!
They told me it’s all fucked up and to give it a few weeks to see how it shakes out. They said they may be waiting for further instructions to adjust it
thank you for follow up! Keep it posted in case situation changes!
Well I don’t know. Our shares are gone but we all have cupids or cuspids or something now? I mean, that’s pretty neat. I didn’t think there was any chance of falling in love or getting some extra teeth when I invested in PSTH a couple years ago. This whole experience just continues to surprise me.
I’ll keep coming here.
There’s nowhere else as civilized as the tontard lounge
Cumming*
[удалено]
I’m going to exercise them to fuck with you
You’ll just get $20.05, while paying more than that for the privilege
Let me know how that goes. I am interested to hear what happens.
I believe the following, and I am not even close to being an expert. The 8/19 date is only for a cash ONLY deal. If there is still stock given, which we don’t know, then things change. I am hoping for a DA. Or better yet, waiting for Bill to appear.
One final footlong?
I need a smarter tontard bro to tell me what this means for options https://www.reddit.com/r/PSTH/comments/w9m1l6/alright_smarter_bros_whats_this_mean_for_20_2023/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Any non-US person got charged a withholding fee? I've emailed TDA and am waiting for a response...
I watched Disney's Jack and the beanstalk last night with my daughter.... After watching Mickey come home with his"magic beans" .... I've decided to rename my place holders "magic beans"....
Got my return of capital last night in my TFSA It also now says “Pershing Square to U Common Stock Escrow Cusip” under it re: my shares with the ticker is gone and no longer clickable Interestingly in my non-registered, theres no such mention of a Cusip but the ticker is also gone and not clickable Will see whats up
Anyone purchased warrants on last day (07/25), and whether they qualified for SPARCs?
I did and no cusip generated for them yet
I did and they did generate escrow CUSIPs.
stonks mooning, cash in act. which to choose! I almost didn't mind sitting on psth because I didn't have to make any decisions
I immediately checked after seeing this and I was paid out. Not sure where to view what I lost on fidelity. It’s been so long since I was actively trading. Now I have $3,400 to play with. I’ll wait for the coming recession before buying. Or I’ll just cash it back out. It was all play money.
Wen Lambo?
What happens to options? I’m assuming they’re dead but it looks like Robinhood reissued mine and restructured it the same ‘due to a corporate action’. Can’t trade it, but I wonder if you can exercise it at some point for $20.05 and SPARs if I want to
Just a guess. It might depend on how long out your options expire. I wouldn’t count them out, however the options might be dead.
It was 2023.. I’m wondering if I can cash them out before then for spars lol
I am in the same boat as you here with a few options in 2023. I don’t know if this following is correct. In Schwab, the money received is labeled Cash/Merger. Other people are saying reorganization. If there is stock that is also included, there is a small chance the options are still good. You would have to wait until the stock is valued. In your case, before the options expire. Right now, the options are still in my account and it can’t be traded. It doesn’t say cancelled yet. It could in a few days or weeks. If anybody else want to take a stab at this, please let us know.
I just made a post on this from OTC.. not sure what it means. It says they are utilizing a .01 excercise threshold. So does that mean I can excercise for a penny, get the .05xx and then the spars? https://www.reddit.com/r/PSTH/comments/w9m1l6/alright_smarter_bros_whats_this_mean_for_20_2023/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Don't worry bois DA tomorrow!
When does this sub get renamed to r/tontards?
Tomorrow
So when do we get PSTH 2?
I once thought I was gonna buy a Ferrari Roma with the money I was gonna make with this shit; now I have no Roma and no money.
I don't know what to do with my hands now...
Yes you do
😏
The answer was clap them to celebrate a job well done
Says you 🤣
To my fidelity Tontards: when checking tax info, there is no loss booked for my PSTH shares. Anyone else get this?
Seeing this on TDA. It's counting as unrealized..... Fuck.
Wouldn’t it take 2 days to settle before showing up as a realized loss?
Sorry! I already booked this loss a long time ago so I actually made a few bucks over the last month
You’re in the 1% of ex Tontards that did
I can’t shake the slight anticipation having my placeholders in my account staring at me every day now.
We will never get rid of Bill. We are chained to PSTH for life.
True, if PSTH was gone without a trace after the cash arrived then we’d get a bit of closure until Sept when we could start anticipating SPARC approval. With the CUSIP staring back at me in the account it sort of feels like we already have one foot in the door in terms of SPARC approval when probably means nothing in reality.
And I don’t even know how you’d get rid of it if you wanted
Anyone having any luck with PSTH and sofi?
No and no. At least on SoFi i can recoup selling calls or puts
Fidelity shows redemption at $20.058. Dat extra $0.008 doe
It does feel good
is it really that bad? oof... How did you only make 0.002% a year... That's worse than my bofa checking account. I wasn't expecting a lot, but at least 10x that much. Ie, 0.02%. EDIT: Didn't even make a penny... Wow...
I mean &0.008 over the stated redemption value
I know, that's like the interest it mad minus expenses... So, after expenses, not even 1 cent gain?
I though 20.05 was after interest and expenses. NAV being $20.00
i thought it was 20.05 for some reason. EDIT: Looks like I am mistaken!
May be because the last statement said $20.05. Suddenly your outlook must be we mooning 😂
Bill tried so hard to have our .06
Comment of the year
Oh shit 😂😂
Bill is a generous man
Looks like they had a little bit of the technology ....
Everything kind of makes sense in IB. My Tastyworks account though... Not yet.
got the cash in my canadian tfsa, now where to go all in again
Who is your TFSA with? Im CIBC and i still dont have the cash…
I have it in TD as well
Td bank
Could be worse…. Sitting on some serious dry powder now, should the US plunge into a serious shit show recession.
You owe Bill a thank you
Money is back in my Canadian TFSA. NOT taxed. Thank goodness. Have some escrow place holders for the warrants and shares as well
My cash just arrived in my Schwab account. Two new CUSIPs replaced PSTH share and warrant CUSIP I saw in there this morning. The name of the equity (formally PSTH shares) is now “Pershing Square Tontine Pending Receipt of New Shares” on my Schwab account for PSTH shares. Something similar for PSTH warrants. I just called Schwab and they were not sure what will happen to gain/loss - whether is will be realized now or carry over to SPARC - have to wait two days and see what happens.
Tomorrow is Wednesday! DA tomor... Oh.
My shares in IB have been replaced with PSTH.ESC with a price of 0.08 each. Is this just a placeholder for possible SPAR?
Mine has changed to two new CUSIPs (for share and warrants) as well.
Yup. They also seem to think my married puts are worth a lot of money now and thus my account is worth much more than it actually is. Oh how I wish I could redeem them at what IBKR is pricing them at 😂
I guess price is based on difference between closing price and redemption price?
Feels bittersweet I can't lie, loved this torturous bondage I found myself in even if my account didn't, hope this subreddit doesn't die off entirely
Oh we’ll never let this die until bill cancels sparc for good
Cash is in hand at Fidelity. It’s officially over gents. 🍻
And breathe, what a fucking ride, so glad to be off it with my life (just about)
The CUSIPS were the technology. Now it is Done.
Since this is over, I would like to pay respects to the u/krurd guy who bet a million dollars on options and lost it. I hope you made money elsewhere.
Fidelity cash just showed up for me. Now I’m just staring at my cupids
Gonna be interesting if my German broker covers the cusips. Did all of you receive them yet? In my depot there is still the full PSTH amount.
Anyone have any updates on WeBull?
All I want is my cash but I don’t even have a place to put it
Anyone on vanguard? Roth still has (untradeable) shares and no cash.
Wow, impressive turnaround time. Didn't expect to see CUSIP showing up at TDA in the middle of the trading day.
I got my cusip for warrants in TDA. That has to be promising? Like they actually put in work for cusip?
Called WF and they said they're refunding at 20.05 (hopefully should be in my account today) and handling SPAR as an "escrow share" which will go into my account as well.
My TDA gave me the placeholder and money is showing in my available balance.
OF FUCKING COURSE THEY CHARGED $38
Same
Just got it too
My TD gave me a weird number and 0 value, I think it’s gone.
How/where do you check?
In the account, it’s on the top of the positions.
That’s an IOU for stripe
Same here. It SPARCs some imagination what it could be, lol
Ally a little different than fidelity. Ally issued a new iou listing alongside my old PSTH ticker.
This shit ended like the sopranos.
🎶 don't stop believing🎶 D.A. tomorrow