facebookReceived a letter from my broker regarding MSFT buying back shares at USD280. Should I continue holding or cash out? - Seedly

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Anonymous

11 May 2021

βˆ™

General Investing

Received a letter from my broker regarding MSFT buying back shares at USD280. Should I continue holding or cash out?

MSFT buying back shares

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Chris

11 May 2021

Owner and Writer at Tortoisemoney.com

Hi Anon, hope you see this before you click accept. I'm not sure if it's the same company, but I'm pretty sure it's a scam. A company know as Ponos did this in the past before for Boeing shares.

Essentially, the letter is not from your broker but a third party, but the broker will deliver the message to you. The company will offer to buy the shares at a much higher than market price. But the trap is that they can choose to exercise this option at any time. However, this also means that your shares will be locked up during this period and they can exercise it when the share price is above USD280 for a guaranteed profit. On the other hand, if the price tanks, you can't sell the shares and the company doesn't lose out bc they don't have to buy it from you.

Anyways, like they always say, "If it sounds too good to be true, it most likely is."

Source: https://www.cynvestor.com/post/an-investing-tra...

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