This is a sign that something's not right, people.
I know TD Ameritrade does this to protect its investors. You may want to rethink your positions before comitting money you may want elsewhere.
Once again ... the DTC has issued no negative information whatsoever regarding ERBB. Not a peep, not an exploratory affidavit, not an inquiry ... nothing. Any reason why TD Ameritrade is disallowing ERBB purchases is purely fictional. go to www.dtcc.com . Do your own due dilligence. Anyone spreading rumors of suspicion that there is a clearing issue with ERBB is short the stock and is encouraging selling pressure. Total BS.
I was just told
"The symbol you are attempting to trade has been recently deemed Non-DTC eligible. What this means is that the company is not eligible for electronic clearing and settlement, therefore, trades need to be settled with physical certificates which carries with it a substantial cost. Zecco is currently only accepting orders for these symbols via phone. We apologize for the inconvenience, but this is done to ensure you are fully aware of the fees (approximately $200-$700 assessed by the market entities) associated with settling trades by way of physical delivery."
Then I was told "The DTC charges fees for the conversion of the shares into physical certificates. These fees range from $200-$700 and are charged to you.
You do have a few options. You can sell and risk the fees, wait until the DTC removes the restriction, or you can submit a Penny for the Lot form. This form essentially requests that our clearing firm, Penson Financial, purchase your entire position from you for .01"
NIce. Way to go Mr. Cook. And thank you ZECCO!!! Cheap Mf's