This is a fully collateralised, UCITS eligible Exchange Traded Commodity (ETC) designed to provide investors with a total return exposure to Coffee futures contracts.
What’s going on this morning? 2000+% rise on day but every sell instruction I input is rejected, even those for just 10 shares.
Did you ever figure out what was going on…I had a look myself but cant find any news stories.
Sorry you didnt get a response.
Free bump at least.
Like NGAS the ETC underwent a share consolidation.
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Thanks for sharing…I was trying to help the OP out but was getting nowhere.
Thank you Bob1 & JimmyJ. So, 23 $COFF shares on 01/12/2023 become 1 Share on 04/12/23. Any fraction resulting from the consolidation will be redeemed within 14 days. This had been announced by Wisdom Tree on 23/10/23 - not that I noticed that, but Freetrade should have done. Instead, Freetrade, asleep at the wheel on this one, increased the value of each share this morning without reducing the number of shares held. This resulted in a ridiculous “Gain” which a) bore no relation to the underlying commodity price movement since Friday and b) materially misstated the value of my holding and overall ISA.
Together with recent “third party” dysfunctions in the App, this does not fill this Crowdcube Freetrade investor with much confidence in Freetrade’s agility. Also, my attempt to contact Freetrade today, once I’d got passed the irrelevant bot, elicited only the normal automated response to Standard Plan investors that a team member would respond in “1 or 2 days.” Lastly, there was no communication indicating why my (admittedly opportunistic) sell orders were rejected. Now I understand that Freetrade is not able to execute trades in this security before they get their excrement together on this one. Not impressive.
But to end on a positive, I’m most grateful for your posts on this thread. Thank you again, Jimmy and Bob.
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