My co worker had the idea to put the entirety of his paycheck in to the employee stock purchase plan and then immediately withdraw it to be up 15%. He had already initiated the contributions before I found the line in the ESPP document that says you must hold the stock 6 months before selling. Before I found this statement, I was convinced enough to test the waters and pull $25/paycheck out. Where my confusion comes in, is we were both able to remove our contributions + 15% - trade fees. My $50 contribution landed in my bank account as $57 something after the fee (it also went up a percent or so in the day it was sitting around). Is this going to come back to bite me (us) in the butt in the future somehow if I (we) continue? What am I missing? Why was I able to sell?
Thanks in advance. Let me know if this fits better in /r/investing.
Submitted July 04, 2019 at 07:59PM by justathrowawaii https://ift.tt/2RUc2LM
