On my stock trading site, wondering what this message means…?
PLEASE NOTE: The buy order that you have submitted is for a security that has a "sell only" status and cannot be purchased at this time.
Why can’t I buy this stock? CHB is the ticker. And I’m using buyandhold website for trading. Thanks for any clarification!
BuyandHold’s web site says they offer trading in 4,100 stocks. That is not every stock on the "market." They say if you want to suggest a new stock for them to trade, it must sell for over $1.00, be listed on NYSE, AMEX or NASDAQ. Since CHB was over a dollar at one time, they may have accepted trades in it. Now it is under a dollar, you can sell what was previously bought thru them, but they don’t offer (to buy) the stock any more. As it trades under $1,00, it may soon be delisted from the NYSE and moved to the bulletin board or pink sheets, which buyandhold does not handle.
March 29th, 2010 at 12:18 am
BuyandHold’s web site says they offer trading in 4,100 stocks. That is not every stock on the "market." They say if you want to suggest a new stock for them to trade, it must sell for over $1.00, be listed on NYSE, AMEX or NASDAQ. Since CHB was over a dollar at one time, they may have accepted trades in it. Now it is under a dollar, you can sell what was previously bought thru them, but they don’t offer (to buy) the stock any more. As it trades under $1,00, it may soon be delisted from the NYSE and moved to the bulletin board or pink sheets, which buyandhold does not handle.
References :