What to do with company stock

[somebody8198]

As part of a previous company's compensation package, I received some vested shares. The company set up a managed account for them and after I left the company they stopped paying the maintenance fee. The long and short of it is, I now have to pay an annual maintenance fee of ~3% to keep this account open. The thing is, the stock has performed very badly. This isn't Apple stock. It's basically tanked, lost almost 90% of its value since the IPO. Would you sell and just take the loss, or would you keep paying the maintenance fee, hoping that the stock recovers some day?

[zephyr911]

You didn't say what you think of the company's long-term prospects, but 3% annually on anything is f@#$ ridiculous.
I would cash out and harvest the loss against something else if possible.

[mjs111]

3% is nuts. With a 90% loss and a 3% maintenance fee you're best off selling and closing the account.  Use the capital loss to offset capital gains or $3,000 of regular income on 2016's tax return.


Mike

[GrowingTheGreen]

You didn't say what you think of the company's long-term prospects, but 3% annually on anything is f@#$ ridiculous.
I would cash out and harvest the loss against something else if possible.

Agreed.  Only silver lining is capital loss!

[zephyr911]

Side note: even if you thought the company was poised for a massive turnaround, you'd still be better holding the shares somewhere else. Get outta that shitty-ass account ASAP.