HO LEE CHIT! Bank of America closing their entire stock lending program later TODAY! 〽️🏦 Marge calling?
(media.greatawakening.win)
💥 BANK COLLAPSE 💥
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"Cancelled" yes.
That's part of the process of a merger / acquisition of this type. Overstock bought the IP / name "Bed Bath & Beyond" so of course the name of the company and stock ticker name was changed.
The transfer agent was also changed from AST to Computershare during this process. Something that you do NOT spend money on if you are going the way of the Dodo.
The new company will likely be "Teddy" although for now the CUISP changed to "Butterfly" as a placeholder name.
The outsiders that are doing this carve out just picked up all of the stores infrastructure for pennies on the dollar AND get NOLs worth 7-9 years for no taxes as a benefit from the bankruptcy save.
This was an unusual transaction to say the least. had to be to shake off synthetic shares and expose fraud.
Keep in mind there are hundreds of companies that went really bankrupt and their stocks didn't get "cancelled" and while not tradeable, they are still in brokerage accounts.
Shorts haven't gotten paid either and they should have if this was a normal bankruptcy. Instead they are being charged 147% - 300% to keep positions open.