Okay, so I already did a post where I talked all about how much I love Loyal3. I felt it was time to reiterate my love for this investing platform after a few different experiences I have had with them.
Let’s start with some good events. Good stuff is always easier to talk about right? So shortly after making my last post Loyal3 updated their platform. I can now see the actual % or $ amount I have made or lost with a particular company. It’s great. It made it a lot easier to make sure I was making a profit with my sales. In fact, so far everything I have sold has been at a gain even with the delay on the transactions going through.
Another great thing I’ve noticed is the addition of investing options. I have already bought 2 IPO’s though Loyal3 and it was incredibly easy. And it’s not just small companies that have released their IPO with Loyal3. Virgin America launched their IPO with Loyal3 back in 2014. It’s pretty fantastic.
Alright, now for the rough part. I did say I hadn’t lost money on a sale, but part of that is because you just don’t sell stock at a loss right? Well, I had bought a handful of Quicksliver stock back when I was testing the waters with Loyal3. When they started to look a bit rocky I sold half of my stock for a profit, but decided to gamble with the other half. Well, as luck would have it they went bankrupt. (They can’t all be winners!) I wasn’t too worried about the monetary loss, but being still pretty new to investing I wasn’t exactly sure how bankruptcy would play out for me and my shit stock.
Loyal3 was incredibly good at communicating everything I needed to know. The first bit of information came before the bankruptcy. It was a notice that I could participate in a class action lawsuit against the company for misrepresenting their company value to stock holders. Good to know, right?
I received probably about 3 communications from Loyal3 after that. The first was an email telling me that the company had been delisted for dropping below $2 per share. Fine, I could see that was going to happen. The email went on to explain what that meant for me as well as what my options were.
After that, came the bankruptcy notifications. Just as they had done with the stock being delisted, Loyal3 went on to explain exactly what was happening, what it meant for me, and what my options were. I couldn’t have asked for more. Ultimately, even after losing some money, I’m a completely happy customer of Loyal3. How many people can say that?!