Way Out of the T12 Halt in EDTX

flatbed said:
Most of the people I talked to said that they can only transfer shares to another account under the same name. How were you able to receive the shares?
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Same name between accounts with different brokers. Any two accounts within the same broker
 
quantdonkey said:
Folks,

I have been day trading for a few years, but I am not a very social person and haven't been a part of the community. The issue I am facing is what prompted me to open the account and publish this post.

EDTX was halted today on a T12 halt. It is a crappy SPAC that was heavily manipulated. Today, the circus was stopped by SEC. It was ~$64 when it was halted. The NAV for EDTX is ~10.5 and that's where it is heading once it will be delisted/downlisted after the halt.

I am stuck in short position. In theory, I should be happy, but T12 halts might take long time to be lifted (e.g CO halt lasted almost a year), and the borrow fees are outrageous. I am looking for a way out.

If by chance, you, or anybody you know, is stuck in the long position and wants to get out while the stock is still halted and before it goes to 10 bucks, I am willing to buy your shares off the exchange using ACAT transfer between the brokers, so we both can close our positions.

Ping me
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Is the borrowing rate almost 500%?
 
TrailerParkTed said:
Is the borrowing rate almost 500%?
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I am gonna guess it’s a yes after reading someone on Reddit paying over $1000 a day. If this hold’s two months, $60,000 off a modest size is rough. I was stuck in junk for over four months on a pump, thankfully not at 500% interest. Longs should offer shares near FMV or shorts can wait months like I did.
 
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