Selling Your Shares

By: Robert Grosshandler | April 8, 2018

Good news – it’s finally pretty easy to try to sell your shares!

At some point, you may want to sell your iConsumer shares (RWRDP).  Not that you have to try to sell them.  The timing of that is totally up to you.  One of our jobs over the last year has been to make that choice and process simpler.  The simplest way to sell is to have a stockbroker (think TD Ameritrade) do that for you.

Three steps to selling RWRDP

The end goal of this process is to get your shares into an account at a stock brokerage firm.  Each step is pretty mechanical, and if you encounter something with which you want assistance, we’re here to help:

  1. Your stock needs to be recorded on the books of the transfer agent.  If you invested cash to purchase your stock, it’s recorded on the transfer agent’s books already.  If you Earned your stock (pending stock cannot be transferred), you may still need to tell us to issue and transfer it to the transfer agent.  Here is how to do that.
  2. You’ll need an account at a stockbroker.  You’ll work with them to transfer your shares from the transfer agent into your brokerage account.  Here’s how to do that.
  3. When you’re ready, you instruct your stockbroker to sell your shares. How you do that depends on the stockbroker you’re using.  Generally, you can choose to sell “at the market” – which means you’ll accept whatever price the stockbroker can get for your stock.  Or, you can specify the lowest price you’re willing to accept.  That’s usually called a “limit” order.  Remember: Just because you want to sell your shares doesn’t mean that there will be somebody who wants to buy your shares at a price that makes you happy.

Why think about buying, selling or holding?

In part, it’s finally possible to make a choice.  It’s been a long journey.  People are beginning to buy and sell RWRDP on the stock market.  I urge you to click on that link and see the prices at which our stock is being bought, offered, and sold right now.  When we did the screen grab below, there were offers to buy ranging from $.012 to $1.05 and offers to sell that ranged from $3.00 to $5.00.  Also, there were five market makers participating, which is generally considered to be a “good thing”.

 

Trading in RWRDP is still in its infancy. It is still highly volatile. Who knows if the price will go up or down, and whether or not people will continue to want to buy or sell.  But after working towards this day for three years, it is great to see activity.

As an example of how fast it changes, here is a screen capture from April 7, 2018, about two weeks later.  Note that the stock prices being quoted have changed, a lot.

A few cautionary words

Some people make their living from buying and selling company stock.  They’re pretty good at it.  They know tricks and techniques to maximize their profits.  I don’t make my living buying and selling stock, so I figure these other folks are going to be better at it than I am.

And remember that volatility thing.  While I don’t know if the stock price of RWRDP is going to go up or down in the months to come, I do know that it will go up and down.

 

 

 

 

 

7 Comments

Cornell BRISCO, April 8, 2018 at 10:42 pm

What do I need to do

    Robert Grosshandler, April 9, 2018 at 1:37 am

    If you’re asking about transferring stock, the links in our last email are the place to start.

Libby Gatling, April 9, 2018 at 6:53 am

Can your transfer agent sell my stocks for me instead of me getting a brokerage account?

    Robert Grosshandler, April 9, 2018 at 10:23 am

    No. That’s not their business. You can sell them, if you find a buyer. Or you can have a stock broker do that for you.

Craig Arch, April 9, 2018 at 2:47 pm

I followed the link to transfer my shares and electronically signed last night. Do you know the timeframe for iConsumer to acknowledge the transfer? The website doesn’t reflect it.

    Kim Logan, April 9, 2018 at 5:19 pm

    There was a problem that we have identified (and fixed) with the transfer process.
    We’ll be sending an additional communication with details soon, but in the meantime please re-do the transfer request.
    Our sincere apologies for the inconvenience.

tarodon, April 10, 2018 at 11:57 am

We transfer your cost basis to the transfer agent, who transfers that on to the brokerage firm. You can see that on your My Stats page after you”ve transferred your shares. Transfer agents do charge, but so far, we”ve seen that the stockbroker is absorbing that cost.


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