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Started By
Message
Help with what to do with old company stock
Posted on 6/9/25 at 8:56 am
Posted on 6/9/25 at 8:56 am
Hi guys
I worked for Dish Network back in the day for 7 years. They had a nice employee stock purchase plan and I had up to 70k worth of stock. Left the company in 2012 and have just left it be
Sadly the company is shite and the parent company Echostar has gone in the dirt.
It’s been around $30 but the WSJ just announced Friday they are hearing Echostar is about to file for chapter 11
Stock this morning is down to a 52 week low of $15
It’s now only worth 5k and I’ve taken a ridiculous loss.
What are my options at this point?
Sell it and reinvest
Sell it and cash out
Keep it? Idk how that works if a company files chapter 11. Does the stock go away?
Also what tax benefits will I get?
I worked for Dish Network back in the day for 7 years. They had a nice employee stock purchase plan and I had up to 70k worth of stock. Left the company in 2012 and have just left it be
Sadly the company is shite and the parent company Echostar has gone in the dirt.
It’s been around $30 but the WSJ just announced Friday they are hearing Echostar is about to file for chapter 11
Stock this morning is down to a 52 week low of $15
It’s now only worth 5k and I’ve taken a ridiculous loss.
What are my options at this point?
Sell it and reinvest
Sell it and cash out
Keep it? Idk how that works if a company files chapter 11. Does the stock go away?
Also what tax benefits will I get?
4
Posted on 6/9/25 at 9:52 am to dallastiger55
Ouch. Certainly on the decline.
LINK
LINK 2
I had company stock once valued at $39/share, then the company went bankrupt, and the stock got delisted at $.03.
Most of the sites I use have it as a "HOLD" or "SELL".
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive developments and challenges. Significant achievements include the merger with Dish Network, growth in Boost Mobile subscribers, successful financing, and industry recognition. However, there were notable challenges such as declines in PayTV and Hughes subscribers, reduced OIBDA, and continued negative free cash flow.
Guess at this point do you need the money or not.
That’s a tough drop—sorry to hear that. If you sell the stock now, you’ll realize a capital loss of $65,000 ($70K - $5K). Since you've held it for seven years, it qualifies as a long-term capital loss.
You can use this loss to offset capital gains from other investments. If you don’t have gains to offset, you can deduct up to $3,000 per year against ordinary income, carrying forward the remaining loss to future years.
LINK
LINK 2
I had company stock once valued at $39/share, then the company went bankrupt, and the stock got delisted at $.03.
Most of the sites I use have it as a "HOLD" or "SELL".
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive developments and challenges. Significant achievements include the merger with Dish Network, growth in Boost Mobile subscribers, successful financing, and industry recognition. However, there were notable challenges such as declines in PayTV and Hughes subscribers, reduced OIBDA, and continued negative free cash flow.
Guess at this point do you need the money or not.
That’s a tough drop—sorry to hear that. If you sell the stock now, you’ll realize a capital loss of $65,000 ($70K - $5K). Since you've held it for seven years, it qualifies as a long-term capital loss.
You can use this loss to offset capital gains from other investments. If you don’t have gains to offset, you can deduct up to $3,000 per year against ordinary income, carrying forward the remaining loss to future years.
Posted on 6/9/25 at 10:13 am to Nole Man
Oh wow so I can keep deducting 3k for the next how many years if I cash out?
Posted on 6/9/25 at 10:54 am to Nole Man
quote:
I had company stock once valued at $39/share, then the company went bankrupt, and the stock got delisted at $.03.
I dated a girl in DFW years ago (2000 or so) that worked in Telecom, she had about 400K in stock on paper and was young 30's so kicking arse.
Within a week it went to 5 cents a share, I can't remember what exactly happened but the Telecom busted and her fortune went to shite.
Posted on 6/9/25 at 12:42 pm to dallastiger55
If you have an accountant I would double check with your specific circumstances, but that’s my understanding.
Posted on 6/9/25 at 1:20 pm to dallastiger55
Sell.
Dead cats rarely bounce.
Dead cats rarely bounce.
Posted on 6/9/25 at 1:24 pm to The Torch
quote:
a girl in DFW years ago (2000 or so) that worked in Telecom, she had about 400K in stock on paper and was young 30's so kicking arse. Within a week it went to 5 cents a share, I can't remember what exactly happened but the Telecom busted and her fortune went to shite.
Man. If she had put that into the s and p 500 she would have like2.4 million.
And yes, I realized that if you’re riding it up that it is hard to know when to sell.
Posted on 6/9/25 at 1:51 pm to Nole Man
But is that the actual loss. What were they purchased for in the late 2000s?
From 2008 through 2012 the stock was $12.20 to $32.46. So he is going to have all kinds of costs basis. Some loss and possibly some gains.
The shares at merger were $16.50. So he may not have any losses at all or possibly at most $.37 per share. It’s not from the high to the where it is now. It’s here he bought them combined with merger.
From 2008 through 2012 the stock was $12.20 to $32.46. So he is going to have all kinds of costs basis. Some loss and possibly some gains.
The shares at merger were $16.50. So he may not have any losses at all or possibly at most $.37 per share. It’s not from the high to the where it is now. It’s here he bought them combined with merger.
Posted on 6/9/25 at 1:57 pm to dallastiger55
Read my post above about the losses.
But somewhere the math is not mathing.
If it’s worth $5k today at $16.19 a share that’s 308.261 shares. At its peak, it was $49.46 (December 2017) a share that comes out to $15,252.77. You might want to talk to a CPA and a Financial Advisor. You also can request a cost basis report from where it’s being held.
But somewhere the math is not mathing.
If it’s worth $5k today at $16.19 a share that’s 308.261 shares. At its peak, it was $49.46 (December 2017) a share that comes out to $15,252.77. You might want to talk to a CPA and a Financial Advisor. You also can request a cost basis report from where it’s being held.
Posted on 6/9/25 at 2:33 pm to The Torch
quote:
I dated a girl in DFW years ago (2000 or so) that worked in Telecom, she had about 400K in stock on paper and was young 30's so kicking arse.
There are a bunch of stories from that time of employees owning shares, but being restricted from selling them for years.
Posted on 6/9/25 at 3:38 pm to LSUtiger89
quote:
Some loss and possibly some gains
Yep. You'd tier the purchase dates. Some could be under a year, some over a year.
But from the OP's comments, you'd assume they'll all long-term at this point.
Posted on 6/9/25 at 4:07 pm to Nole Man
I’m not talking about the long-term. Based on the information, it’s safe to assume it’s all long-term.
I was responding to your comment of
It’s not the loss you are saying it is. I’m saying he still may not even show a long-term capital loss. So that may be bad advice from what I’m seeing right now from the stock chart and merger.
I was responding to your comment of
quote:
That’s a tough drop—sorry to hear that. If you sell the stock now, you’ll realize a capital loss of $65,000 ($70K - $5K). Since you've held it for seven years, it qualifies as a long-term capital loss.
It’s not the loss you are saying it is. I’m saying he still may not even show a long-term capital loss. So that may be bad advice from what I’m seeing right now from the stock chart and merger.
Posted on 6/9/25 at 5:20 pm to LSUtiger89
That would be from a purely accounting point of view. And we don’t know the exact basis.
Don’t have an opinion if the OP should sell or not sell.
See the links from several analytic sites I follow. There are some that actually think it’s a hold or some that may see some upside.
Guess if it was my money at this point, I’d probably wait it out and see if something happens because there’s not much left anyway.
Don’t have an opinion if the OP should sell or not sell.
See the links from several analytic sites I follow. There are some that actually think it’s a hold or some that may see some upside.
Guess if it was my money at this point, I’d probably wait it out and see if something happens because there’s not much left anyway.
Posted on 6/10/25 at 3:43 pm to dallastiger55
I'd ask yourself two questions...
1. Do you need the money for anything in the short term?
2. (even more important than question 1 in my opinion) Do you believe in Dish Network and their potential in the future?
If your answer to question 2 is "no" or your answer to question 1 is "yes," sell it. It's not worth waiting to see if it comes back. Most consumers are moving to streaming for TV these days, so betting on your more-traditional satellite TV company making a roaring comeback probably isn't a smart move.
1. Do you need the money for anything in the short term?
2. (even more important than question 1 in my opinion) Do you believe in Dish Network and their potential in the future?
If your answer to question 2 is "no" or your answer to question 1 is "yes," sell it. It's not worth waiting to see if it comes back. Most consumers are moving to streaming for TV these days, so betting on your more-traditional satellite TV company making a roaring comeback probably isn't a smart move.
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