Foo - dumb question about selling stock
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05-17-06, 09:53 AM
So I've had my year-end bonus from my old job sitting around. 74 shares. I want to cash it out since I'm not exactly going to be making any money on this even if the stock skyrockets (it won't).
Is there any place where you can do a one-off sale of a small amount of stock?
I asked my bank if they can sell it. They said no and directed me to Scott Trade. But I don't know if I really want to open up an account just to sell $500 worth of stock...
05-17-06, 10:06 AM
why not take advantage, open a Scott Trade account (or Fidelity, which is free) and instead of selling it off, add to it once a month? If you're not investing at all right now, this is a perfect jump start--
05-17-06, 10:24 AM
Yeah, but see... that would be the responsible, intelligent thing to do...
By the way, other than Scott Trade having a transaction fee, do you happen know what the difference between it and Fidelity is?
05-17-06, 10:32 AM
I've not dealt with Scott Trade, so I can't really say with certainty, but I do have a Fidelity account, and when I've had to talk to someone in person they've treated me like I had millions with them (which I don't). Their website fricken rocks, and I'm pretty sure you can open a personal account without a minimum balance service fee (cause I did the same thing in your shoes a number of years ago) --I don't know if Scott Trade does or not...
05-17-06, 10:42 AM
Do you hold the stock certificate, or does the broker? If you hold it, I believe you can sell it yourself if you have a buyer. e-bay? I've never sold mine, it's just my understanding. I did sell some stock held by Ameritec, who bought my other broker and got to claim quite a loss on my taxes.
BTW: Anyone needs a particular stock to plummet, just let me kow and I'll buy a share. They will go out biz in a week.
05-17-06, 10:49 AM
I have the stock certificate.
Looks like Scott Trade has a minimum $500 balance. I'll take a closer look at the two later tonight.
Ask your company HR person if they can sell your shares through the company broker. Most brokers will do this as service to the client, if there is a transaction fee the company should pick it up. Wouldn't hurt to ask. Open a Charles Schwab account and take the certificates to then, then sell them. Then you can buy shares in Microsoft, or GE.
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