AMC Reverse Stock Split 1000:1 Ratio

jmclagan
jmclagan Quicken Windows Subscription Member ✭✭
edited October 2023 in Investing (Windows)

I would like to request that Intuit eliminates the error on a 1000:1 stock split. Recently APE did a reverse stock split and converted all held shares to AMC. The download from the financial institution was incorrectly based at a 1:1, i'm sure due to this limitation in Quicken.

When i try to record a stock split for APE with New Shares being 0 and old shares being 1000, I get the error message 1000:1 ratio is not allowed. But it is allowed in the market, so why is it not allowed in the software.

The work around is to remove the shares under APE and add the shares under AMC. But i'm not sure what that does for my cost basis and tax reporting.

Respectfully Submitted

Comments

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited September 2023

    Try New shares = 1 Old shares = 1000. That would be the correct way to enter a 1000:1 split and it appears to work. If you end up with a fractional share which your broker sold, you would enter that as a separate transaction.

    QWin Premier subscription
  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭

    I suggest you check your facts. Everything I am reading this morning indicates the APE preferred equity shares are being converted to AMC common shares. There may also be a 1:10 reverse split of the AMC shares. I see nothing about 1:1000.

  • Ps56k2
    Ps56k2 Quicken Windows Subscription Alumni ✭✭✭✭
    edited September 2023

    looks like - 1:10 - for now -
    with the APE stock being handled some time in the future…
    After months of legal battles AMC Entertainment Holdings Inc. is set to finally implement its reverse 1-for-10 split of its common stock and AMC Preferred Equity unit stock conversion

    https://www.msn.com/en-us/money/topstocks/amc-reverse-stock-split-ape-conversion-remove-overhang-analyst-says-in-upgrade/ar-AA1fIFnS

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