Questrade - China Mobile Limited (CHL) Delisting
Wondering if anyone has more information about what happens to stocks that are delisted when it comes to Questrade. Received an email from Questrade relating to CHL, saying:
I would've thought that the stock would become an OTC or pink slip stock after delisting, but Questrade's email says that the value of the position may be lost? I've tried reaching out to Questrade to clarify this but both their call line and online chat have wait times where I'm on hold for hours with no assistance.
In accordance with Executive Order 13959, the NYSE has commenced proceedings to delist the securities of the below issuers. The delisting is expected to proceed as soon as January 7th or as late as January 11th. Note that timelines are subject to change without notice.
The below symbols fall under this executive order:
CHL (China Mobile Limited)
CHA (China Telecom Corp Limited)
CHU (China Unicom)
Due to this, EFFECTIVE IMMEDIATELY, these symbols will require a 100% margin requirement and further opening transactions on them have been restricted.
As per the executive order, these symbols will be delisted and cease trading on or before January 11, 2021 (and potentially as soon as January 7).
If you continue to hold a stock or option position once it's delisted, you may be unable to liquidate and the value of your position may be lost. In addition, if you hold an option position you may not be able to exercise it once it's delisted.