As a shareholder of Hertz, we wanted to provide an update on your holdings. On 11/10/2020, Hertz stock was delisted from the New York Stock Exchange (NYSE) and began trading in the Over-the-Counter (OTC) market under the ticker symbol, HTZGQ. Cash App Investing does not support OTC buys at this time. Unless you take other action, Cash App Investing will automatically sell your position in HTZGQ on or after February 16, 2021.
As a Hertz stockholder, the following options are available:
No action taken: Automatic liquidation
Cash App Investing will sell your position in HTZGQ on or after February 16, 2021, pursuant to the terms and conditions below
Please note that we cannot guarantee a specific price per share or time of trade. Once your position is sold, the proceeds will be reflected in your Cash App balance.
Sell shares prior to February 15, 2021
Alternatively, if you would like to sell your HTZGQ prior to 2/16/2021, you can do so directly in-app. For more information on selling your shares over-the-counter, visit here.
Transfer all whole shares prior to February 16, 2021
You may transfer your HTZGQ holdings to another brokerage provided that we receive notice from the receiving broker prior to 2/16/2021. If you wish to transfer your shares, please follow the instructions found here.
Note that you are only able to transfer whole shares; fractional shares are non transferable and must be sold. If you do not sell prior to 2/15/2021, all fractional shares will be automatically liquidated under option 1 above. Additionally, it’s important to check with your receiving broker-dealer to ensure that they support OTC trading.
Automatic liquidations are subject to the following terms:
- We will attempt to sell these holdings on the OTC market.
- In general, we do not place orders right away. We will collect orders and place them in a batch. Once the trade is completed, the proceeds will be reflected in your Cash App balance.
- OTC markets are uncertain and we may not be able to find a counterparty for your trade.
- We cannot guarantee a specific price per share, time of trade, or that we will be able to place your trade at all.
- You will be charged SEC and TAF fees for each sell trade, as follows: SEC Fee is $.0000510 per $100 of principal and is rounded up to the nearest penny. TAF Fee is $0.000119 per share, rounded up to the nearest penny, and will not exceed $5.95.
- OTC markets are highly volatile. The price you may see on national exchanges may not be the price available in the OTC market. Because we are placing these trades manually, you will not be able to see the prices available in the OTC market prior to placing this trade.
- Trading in OTC is risky as these securities are more illiquid than exchange-listed securities. This illiquidity may increase price volatility and the price you receive for selling your shares may fluctuate significantly from quotes available for the stock.
- While your position may have been sold successfully, the App may not update immediately. The process can take up to 10 business days to complete.
As a self-directed investor, you are fully responsible for all trades placed by you. It is your responsibility to research and understand the risks and consequences of your trades.
If you have questions regarding the company’s stock, you may be able to contact the company’s Investor Relations team, or locate the Investor Relations page on their website for clarification.
Selling shares may have tax implications. If you have questions about your particular tax situation you should consult a tax advisor. Cash App Investing does not provide investment advice or recommendations. Investing involves risk and you may lose money. Review the Disclosure Library for more on the risks involved with investing. Brokerage services provided by Cash App Investing LLC, member FINRA/SIPC and a subsidiary of Square, Inc.
Update for CHL shareholders