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Started By
Message
re: SNAP INC
Posted on 3/2/17 at 5:03 pm to LSUFanHouston
Posted on 3/2/17 at 5:03 pm to LSUFanHouston
I didn't get the offer through their IPO center. They called me and asked if I'd like to reserve 300 shares at $20.25. So maybe it wasn't an actual IPO. It wasn't the IPO price. I asked them to reserve, they said I'd have to follow a link, and read the disclaimer. Which of course I didn't. I also asked for the shares to be immediate sold at $22.25, and they told me I need to wait to see if my reserve executed and enter the sell myself.
So the trading kicks off sometime between 11 and 1130. I think EST, but don't recall. I don't see any execution, and there is no pending order in their system. I call them. Their telephones are jammed. I usually get through to their "elite trading desk", whatever that is, but when I finally get through I'm with customer service. So while I'm asking questions, I get a notification that I bought 300 at $22 something. I sell while I'm talking to her. The shares are gone immediately and about a 5 minute delay before I receive confirmation.
Whats odd is that the $20.25 wasn't reserved for me, if it was an order of some of their proprietary shares that they some =how got, the price blew through at opn, never touched $20.25, opened at $24. So that part makes no sense to me. But when I put in a sell, it doesn't blow through that for a higher price, but executes. I looked again, and it looks like it pended slightly under $24, and a bunch of selling almost immediately.
In the next couple of days I'm going to go through their disclaimer and see what was actually offered to me. Usually their IPO center is junk. My offers are add on offerings, and companies I've never heard of. They called one other time. WYNN's IPO, which I actually got at the IPO offered price.
So the trading kicks off sometime between 11 and 1130. I think EST, but don't recall. I don't see any execution, and there is no pending order in their system. I call them. Their telephones are jammed. I usually get through to their "elite trading desk", whatever that is, but when I finally get through I'm with customer service. So while I'm asking questions, I get a notification that I bought 300 at $22 something. I sell while I'm talking to her. The shares are gone immediately and about a 5 minute delay before I receive confirmation.
Whats odd is that the $20.25 wasn't reserved for me, if it was an order of some of their proprietary shares that they some =how got, the price blew through at opn, never touched $20.25, opened at $24. So that part makes no sense to me. But when I put in a sell, it doesn't blow through that for a higher price, but executes. I looked again, and it looks like it pended slightly under $24, and a bunch of selling almost immediately.
In the next couple of days I'm going to go through their disclaimer and see what was actually offered to me. Usually their IPO center is junk. My offers are add on offerings, and companies I've never heard of. They called one other time. WYNN's IPO, which I actually got at the IPO offered price.
Posted on 3/2/17 at 5:41 pm to Iowa Golfer
quote:
They called me and asked
thanks
Posted on 3/2/17 at 5:54 pm to Iowa Golfer
Sounds to me like it wasn't part of the IPO after all, but maybe just a setup sale for whichever of their customer DID get an IPO offer? In other words, you were the second (or third or whatever) person to touch those shares. Having it not go through their IPO center also causes me to think that.
Hopefully the disclaimer says something that makes sense. I'd be annoyed though if their caller indicated or somehow led you to believe it would be at the offering price and then they laid back on a disclaimer. Again, fiduciary duty.
Hopefully the disclaimer says something that makes sense. I'd be annoyed though if their caller indicated or somehow led you to believe it would be at the offering price and then they laid back on a disclaimer. Again, fiduciary duty.
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