Perhaps someone can comment on this problem:|
I got my SLNN shares via the spinoff from SHAL. From a tech analysis perspective, SLNN doesn't look good at all. I decided to get out while the stock is still (temporarily) above $13. After I placed my Sell order, my broker called me back and advised that the SLNN stock is 'restricted' and can not be sold.
Does anyone know anything about this? Is the stock restricted because it is unregistered - or for another reason? When is the restriction period over? With both SLNN and SHAL falling in recent weeks, I could sell SHAL, but not SLNN. With all the talk of how good the SHAL spinoffs would be, it seems pointless if you can't take your profit or protect yourself from price erosion when you want to.