Canadian Stocks/re: tracking stock values
I bought some stocks years ago and the companies have had name changes, stock consolidations or splits, etc etc. Being a novice with stock trading, just want to clarify....IF a company is delisted / cease trade order made, does that make the stocks I have worthless? If so, I'd be free to throw out all this old documentation I have on hand that's taking up space.
Rob, a cease-trade order or delisting does not automatically make a company worthless. In some cases, they do correct the issues which led to the problems which resulted in the cease-trade order or delisting, but the small percentage that are able to return to trading, the majority of them return quickly. The longer a company remains cease-traded, the less likely they will ever be able to return. It is extremely unlikely any company cease-traded for more than a few years would ever return and have value. But, even if it does, you should not need all the documentation and even certificates to claim ownership. The only records that really matter are kept by the Transfer Agent/registrar, so as long as they have a current address for you, they should be able to track you down if the stock changes and returns to trading.