Many investors find themselves asking the question, “how do i sell my stock“. This question arises in most occasions when a person did not open the position, but received the stock as a gift or part of a retirement plan.
There are times when investors are unsure of how to close a position that they themselves opened. The trader should log into their account and find the tab which displays their open positions. The next step is to verify the total number of shares for your position. You will then want to navigate to the order screen and type in the symbol and number of shares for the open position. There will be an option to “sell”. After you click sell, most brokers will have a verification screen, at which point you will want to review the order. Lastly, you will want to click “execute” and then make sure to write down the order execution information for your records.
Selling a stock that is a part of your retirement plan is a simple process, but requires a few more steps than our previous example. The first thing you will want to do is figure out which broker is managing your 401k plan. You should have received some sort of paperwork in the mail, or an email with a portion of your account information. Once you have received your login information, you will want to navigate to the order screen and close out the position. Unlike online trading brokers where you can close out the position within seconds, retirement accounts are settled at the end of the day.
If you receive a stock as part of a will where it is issued to you in a stock certificate, you will want to contact a transfer agent. The transfer agent keeps records of the outstanding stock certificate and the name of the person whom it is registered to. Your deceased loved one should have transferred the stock certificate over to you as part of settling their outstanding affairs.