Aaand It’s Gone

Imagine you actually put $10,000 into one of the most successful IPOs of all time and then never looked at the stock again.

And then imagine when you went to sell your shares you found out the state took control of your account and liquidated it ten years earlier ¯\_(ツ)_/¯

This is one of the most bizarre stories I’ve ever heard. Apparently in Delaware, where ETrade is domiciled, the State takes control of investment accounts that have had no activity after three years.

You have to listen to this incredible podcast from Planet Money. It’s only 20 minutes long, check it out.

Episode 967: Escheat Show

 

Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.