Attention, those of you who own CARBO Ceramics Inc. (CRR): CRR has entered bankruptcy, and has changed its symbol to CRRTQ. This will likely leave the stock price with little or no value in the future. At this time we recommend selling the shares and recognizing the loss in the Snider Investment Method®.
We recommend these steps to close the CRRTQ position:
• Sell all your CRRTQ shares.
• Record the information about the sale on your Individual Stock Purchase Record.
• Complete the “Profit from Closed Position” portion of the Individual Stock Purchase Record. In this case, ‘Profit’ will be negative.
• Record the loss on the Monthly Stake Worksheet.
• Remove CRRTQ from your Allocated Cash Worksheet.
Lattco PRO clients: The calculations and adjustments will automatically be done the moment you sell your shares of CRRTQ and update activity.
AutoPilot clients: The calculations and adjustments will automatically be done the moment you sell your shares of CRRTQ and update activity. At this time, the sell trade ticket is not built into AutoPilot. You will need to log in to Ally Invest in order to sell your remaining shares. When placing the sale order use a limit order form rather than the normal market order. We recommend setting the limit to the current BID price.
Bankruptcy is the largest risk of the Snider Method. Although we attempt to avoid financially unstable companies through our screening process, the screens are not foolproof. We understand your concern and frustration about this situation.
If you have any questions, please don’t hesitate to contact us at firstname.lastname@example.org or 1-888-6-SNIDER. We’ll be happy to walk you through the process.