United Flight Attendants Rush to Sell Newly Minted Stocks

While enjoying the amazing mild curry beef at Ecce last night, one of Ron’s buddies/co-workers called him to tell him to sell his stock in the company immediately. “All” the flight attendants were doing this because someone heard from someone that the stock was going to tank.

This is the stock they got just a week ago. Five business days ago. This is part of the exit out of bankruptcy for UAL with their new ticker symbol is UAUA on the NASDAQ.
I asked Ron how long it was until the CEOs can sell their stock and he said six months – so I predict that the stock will stay supported until then. The clincher is that the flight attendants are taking these stocks to sell out of their 401(k). Does that raise a warning flag to anybody? If I touched my 401(k) I think my parents would drive here and do an intervention – if my sister didn’t fly here and lay a Ellen Ripley/Carter Burke smackdown first. I was told you never never ever under any circumstances except you’re going to have to file forbankruptcy do you touch your 401(k). You pretend like you don’t even have it.

I think the flight attendants that did this are going to regret it. Especially when they see the tax penalties for withdrawing from their 401(k)s early. Yeek. Good luck everyone ont his.

One thought on “United Flight Attendants Rush to Sell Newly Minted Stocks

  1. Dustin

    Hey Andy!
    I am one of the flight attendants I think you’re referring too. I sold my stock and moved it to my vanguard mutual fund 401K. Everyone that I know has done the same thing. There are no penalties for doing that and its in a much more secure fund. In essence I took the money the stock was worth at that moment and transferred it TO my 401k. I am well aware if I cashed the stock in I would be hit with 50% taxation. That would not be smart. And from my understanding, the stock was never in a 401K to begin with…so i had to transfer it to my 401K. Sorry if Ron did not explain it properly.
    Take care,
    Dustin

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