If you can sell, that is the easiest way to establish the loss for tax purposes. In all likelihood, it will become worthless, so you might as well get the tax benefit now.
you dont hold on to penny stocks bro it's all buy low sell high..you got burned..check out tim sykes
Hi,
I purchased stock in CERP on the OTC market. Recently the stock went into bankruptcy and the ticker changed to CERPQ. The ticker changed again to CERPD - which from my understanding means they issued a reverse split. When I look on my brokerage account, I no longer see the ticker just a 9 digit number with the option to sell. Will my stock eventually reflect the new price or did I completely lose my investment since the company filed bankruptcy? What exactly happened to my stock? Will holding onto it make any difference?
Thank you!