How to sell my RINO shares?

Discussion in 'Order Execution' started by tonyzhou, Jan 30, 2012.

  1. I have around 30000 shares RINO at Interactive Brokers and want to sell. This is a pink sheets stock and according to IB's customer service, in grey market now. Interactive Brokers forward the order to NITE. However, NITE do not disseminate the quotes for RINO right now. So I think nobody can see my order. I saw several transactions in the past few days is higher than my asking price, but my order cannot be executed. The current bid is $0.03 and ask is $0.28. I do not want close at $0.03 and want to set a higher limit price, but Interactive Brokers cannot do that. Then I asked them if I can find someone to buy privately, how can they process the transaction? The customer service said IB cannot do that and I have to transfer the stock out, even if the buyer is also a client of IB, and customer service do not know which broker can do that.

    If you have experience on selling stock in such a difficult situation, please share your ideas how I can sell it. Any advice is welcome. Thank you in advance.
  2. You will need the physical certificates and trade it in the OTC pits open outcry. There might be a market there or not. If you want to trade paper you have to pay a fee to have temporary customer access to the floor and hopefully someone buys and you recover something from those shares.
  3. "OTC pits open outcry"

    "temporary customer access to the floor"

    WTH are you talking about?

    There have never been "OTC pits".