I read or thought that I understood that the buyout of ALY is tax free for stockholders. Is this true?
At $4.24 and waiting for $4.25, this stock is "dead money". I felt that way when ALY was at $4.02 a few weeks ago and sold my shares in a Roth IRA and bought HERO, which is up 20% since that time. I would sell my other shares of ALY in my taxable brokerage account now, except that I have significant capital gains having purchased a block of shares at $2 a month before the announcement. I am only holding to qualify for the "tax free" status. I thought that I read that the buyout was considered a purchase, so my selling would be at the price of the shares the day before the buyout and significant uptick transpired.
I would appreciate some insight on this situation.