AaronParticipantJanuary 1, 2021 at 4:58 PMPost count: 23
Hoping Sean will chime in with more direct advice but one option would be to transfer these holdings to another broker. The CHL that we hold is the listing specifically on the NYSE. However, the company is also listed for example on the Hong Kong stock exchange. It’s probably going to depend on how much of a loss you’re taking by just liquidating it as there may be transfer fees etc involved to complicate the process. Obviously, Sean will have better advice but there may be options beyond simply liquidating.AaronParticipantJanuary 1, 2021 at 5:02 PMPost count: 23
Oh, hey Rachel there’s a conversation going on the posting titled “CHL Averaging down.” Looks like I was mostly right but if check out the conversation on that thread…Sean HymanKeymasterJanuary 1, 2021 at 6:36 PMPost count: 5577
Good info, Rachel. Thanks.
Aaron, yep, yu’re right. I addressed it on that thread. https://logicalinvestor.net/forums/topic/chl-_-averaging-down-point/page/3/#post-39636
Americans can no longer hold it in American accounts. CHL is traded in Hong Kong. Not sure it’s worth opening and transferring there, but that would be up to you. But here in the U.S., because of the presidential decree, you’d have to sell it if you didn’t transfer it to Hong Kong. d
So, a forced sell (by Monday with some brokers) would incur a loss. I guess one would just have to remember that we made almost 17% off of it last time, which would lessen that loss. Not much one can do when the president makes it illegal to hold them and then makes the date so near-term.Sean HymanKeymasterJanuary 1, 2021 at 6:37 PMPost count: 5577
And the reason why I didn’t address it on the latest video is because the last word I’d seen on it was November of 2021 was when we had to sell it. That got drastically moved up recently, without my knowledge.Sean HymanKeymasterJanuary 1, 2021 at 6:39 PMPost count: 5577
Aaron, thanks for helping out while I was away, and for just being a help in general.matt andersonParticipantJanuary 1, 2021 at 6:48 PMPost count: 15
I wonder if that applies to options on CHL? I haven’t received a notification about that those need to be exited.Sean HymanKeymasterJanuary 1, 2021 at 6:51 PMPost count: 5577
That’s a good question that only your broker could properly answer.Sean HymanKeymasterJanuary 1, 2021 at 6:54 PMPost count: 5577
By the way, institutions had MILLIONS of shares that they’re having to sell and take losses on. Whew! https://money.cnn.com/quote/shareholders/shareholders.html?symb=CHL&subView=institutionalBekkaParticipantJanuary 1, 2021 at 6:56 PMPost count: 311
Would it be best to sell it at market or as a limit order?AaronParticipantJanuary 1, 2021 at 6:59 PMPost count: 23
No problem… uh, btw. Lol. When I signed my brother up for his Christmas gift I was logged into the moderator account. Somehow it messed up the permissions for that account and I can’t access anything anymore. Was gonna text ya but well, wasn’t pressing since I still have this…Sean HymanKeymasterJanuary 1, 2021 at 7:10 PMPost count: 5577
Market order, because it’s liquid enough.
Aaron: I think I’ve got you updated back up to moderator. Check it out and let me know. Thanks. Sorry, for whatever reason, that bumped you off of that.BaukaParticipantJanuary 1, 2021 at 9:01 PMPost count: 26
So if we are Canadian I assume we can keep it in the portfolio ? Brokerage is Canadian as well. Will it still be listed on the NYSE?Sean HymanKeymasterJanuary 1, 2021 at 9:11 PMPost count: 5577
You’d have to ask your broker to make for sure. It won’t be traded on the NYSE. And I’m not sure if it trades on the Toronto exchange. I just know it trades in Hong Kong.
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