Stock spinoff

carrbigdog's Avatar

carrbigdog

26 Aug, 2021 05:26 PM

I used the below example to try and manage a recent stock spinoff. There were no fractional shares so the last line of the example was not used. As a result of the SellXfr on the spin off date the stock shows a value of .01 and a share price of .00002 even though I have history showing the current price. I have attached a list from Find/Replace showing all transactions for XPO.
Any help you could provide would be greatly appreciated.
-----
DATE ACTION SECURITY SHARES AMOUNT
Spin Off Date SellXfr Original Company Total Shares $0.00
Original Purchase Date BuyXfr Original Company New # of Shares Adjusted Basis
Original Purchase Date BuyXfr New Company Shares + Fractional Adjusted Basis
Spin Off Date Sell New Company Fractional Shares Proceeds
------(https://infinitekind.zendesk.com/hc/en-us/articles/200734487-How-to-account-for-a-Stock-Spin-Off)

  1. 1 Posted by carrbigdog on 30 Aug, 2021 06:26 AM

    carrbigdog's Avatar

    After a 2-3 weeks of having the original stock (XPO) listed on the Securities Details page with a value of .0002 per share, the valuation is now accepting the updates from history and the stock is valued correctly. Not sure what the issue was, but it has corrected itself. It would be nice to know what happened but no harm, no foul. So I guess this could be closed.

  2. Maddy closed this discussion on 30 Aug, 2021 10:35 AM.

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