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Portfolio123 » List all forums » Forum: Simulations and Portfolios » Thread: COP / PSX |
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Total posts in this thread: 3 |
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acamus
Advanced Member
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One of my portfolios holds ConocoPhillips (COP). This happened today. NEW YORK (MarketWatch) -- Phillips 66 PSX -0.73% begins regular trading on Tuesday on the New York Stock Exchange after the refining and gas station company was spun off from ConocoPhillips COP -21.13% . ConocoPhillips is emerging as an independent exploration and production company. So in reality the port now has 1 share of PSX @33.86 for every 2 shares of COP @56.55, whereas yesterday it had 50 shares of COP @71.69. How do I update the port (if at all)? Thanks, Al |
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marco
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We do not handle spinoffs. Reuters creates a "spinoff" split, in this case 1.3118, to keep everything smooth (prices etc) For our purposes spinoffs should just be sold since fundamental data becomes unreliable. Very little data gets re-stated for the company and ratios will have many NA and unreliable data. For example long term growth ratios might be a frankestein of ratios from company data before and after spinoff. We'll monitor the values Since we have the corporate action that indicate spinoff one future enhancement to simulator will be to always dump stocks that are about to spinoff. ---------------------------------------- Portfolio123 Staff |
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theilman
Advanced Member
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That's too bad, because there is a fair amount of research out there that indicate spin-off's are a nice way to make money. I for one wouldn't want the simulator automatically selling a position. A corporate activity flag would be more appropriate. Ted |
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