How do I sell stock? - Mothering Forums

Forum Jump: 
 
Thread Tools
Old 08-20-2005, 03:28 AM - Thread Starter
 
Sustainer's Avatar
 
Join Date: Sep 2002
Location: upstate NY
Posts: 10,340
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I own exactly two shares of stock, and I want to cash it in. Can someone explain to me in layman's terms how to go about selling it? I would prefer not to have to pay a middleman a significant portion of it. It's only 2 shares, so we're not talking about much money, and I'd like to keep as much of it as possible (plus, the reason I want to sell it now is that I need as much money as possible right now).

I have no idea what I'm doing. I tried to look into it myself, but I don't even know if what I've got is "stock certificates" or "shares of common stock" (though I'm inclined to think it's the latter -- it just sounds more right). I'm not sure where the document is that explains what they are. I do know the name of the company they're from, though.

Any help is appreciated!

-Alice, SAHM to dd (2001) and ds (2004) each of whom was a homebirth.jpg, who each self-weaned at 4.5 years bfolderchild.gif, who both fambedsingle2.gif'd, who were bothcd.gif, and both: novaxnocirc.gif.   Also, gd.gif, and goorganic.jpg!

Sustainer is offline  
Sponsored Links
Advertisement
 
Old 08-23-2005, 04:03 PM
 
OneTrickPony's Avatar
 
Join Date: Feb 2002
Location: Toronto
Posts: 242
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
stock certificates = common shares. In the "olden days," shares of a company were issued on certificates and were called "stock certificates." Now, they are typically issued electronically with a paper receipt, and are just called what they are, which is "common shares" (as opposed to preferred shares, which are another form of shares).

It may be difficult for you to find a purchaser for only two shares of stock, because there may be a limited market for two single shares. My advice would be to first contact the company itself, if that is feasible, because they may have a stock repurchase program which would allow you to sell the shares directly back to them at or close to the current market price.

If they do not, ask them if they have a recommendation for a brokerage that trades in their shares in significant volume -- so that you can find someone willing to take two shares off your hands. The problem you may encounter is that you may need to establish an account with that brokerage, and there are typically account setup and trading fees. The alternative is to sell them online using a discount brokerage, which should provide you with an avenue for selling them directly. However, again, there will be fees -- typically a discount brokerage fee is in the range of $9.95 (or so) per trade, so your profit would be reduced by that amount if you are able to sell via that route.

If you have a financial planner, an investment advisor, or a trusted bank rep I would also suggest talking to them. For example, if your bank has a discount brokerage arm, they may be willing to undertake the trade at no charge.

Hope that is helpful and good luck!
OneTrickPony is offline  
Old 08-23-2005, 04:34 PM - Thread Starter
 
Sustainer's Avatar
 
Join Date: Sep 2002
Location: upstate NY
Posts: 10,340
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by OneTrickPony
stock certificates = common shares.
Oh, ok. Seemed like one of the websites I went to made a distinction between the two.

Thank you so much for all your help!

I wouldn't mind paying $10 or so. One of the websites I went to though, it looked like they charged $30 just to get a QUOTE!

Thanks again!

-Alice, SAHM to dd (2001) and ds (2004) each of whom was a homebirth.jpg, who each self-weaned at 4.5 years bfolderchild.gif, who both fambedsingle2.gif'd, who were bothcd.gif, and both: novaxnocirc.gif.   Also, gd.gif, and goorganic.jpg!

Sustainer is offline  
Old 08-23-2005, 06:00 PM
 
OneTrickPony's Avatar
 
Join Date: Feb 2002
Location: Toronto
Posts: 242
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
if it is a publicly traded company, the share price is PUBLIC. I don't know where to tell you to look (because I don't know where you are and where the company is!) but the company website is a good place to start. You can count on a transaction fee (unless, like I suggested, your current financial services provider would agree to undertake the trade at no charge) but you should be able to get the share price in under a minute from the company web site or a stock listing site.

If these are PRIVATE shares, then the company is the logical place to resell them.
OneTrickPony is offline  
Old 09-09-2005, 09:27 AM
 
late-night nan's Avatar
 
Join Date: Jan 2003
Posts: 713
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
this is a follow-on question--I'm also looking to unload a modest total of shares: any recommendations for websites with good, reliable boards or other info on financial matters?

also, recommendations for a discount brokerage?
late-night nan is offline  
Old 09-11-2005, 08:26 PM
 
Brookesmom's Avatar
 
Join Date: Oct 2002
Location: metro Detroit
Posts: 624
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
For discount brokerages, my husband reallyl likes Waterhouse. They have pretty low rates I believe.

I think Fidelity has lots of investment info on their website. At least they do for 401K retirement accounts. I believe their regular site is www.fidelity.com and www.401k.com for retirement.
Brookesmom is offline  
Old 09-21-2005, 04:20 AM
 
late-night nan's Avatar
 
Join Date: Jan 2003
Posts: 713
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Thanks for the Waterhouse recommendation. I'll be sure to look into it. I found out that there are financial services at my credit union; but when I called and left a message, they never called back. : so I'd like to find an organization that is more professional.
late-night nan is offline  
 
User Tag List

Thread Tools


Forum Jump: 

Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off