Attention, those of you who own Quicksilver Resources (KWK): KWK has entered bankruptcy and has been delisted. Its ticker symbol has changed to KWKAQ. This will likely leave the stock price with little or no value in the future. At this time we recommend selling the shares and recognizing the loss in the Snider Investment Method®.
We recommend these steps to close the KWK position:
• Sell all your KWKA shares. Use a Limit Order. Set the Limit price at the last price or slightly below it.
• Record the information about the sale on your Individual Stock Purchase Record.
• Complete the “Profit from Closed Position” portion of the Individual Stock Purchase Record. In this case ‘Profit’ will be negative.
• Record the loss on the Monthly Stake Worksheet.
• Remove KWKA from your Allocated Cash Worksheet.
LattcoPRO clients: The calculations and adjustments will automatically be done the moment you sell your shares of KWKA and update activity.
Bankruptcy is a risk of the Snider Method. Although, we attempt to avoid financially unstable companies through our screening process, the screens are not foolproof. We understand your concern and frustration about this situation.
If you have any questions, please don’t hesitate to contact us at support@snideradvisors.com or 1-888-6-SNIDER. We’ll be happy to walk you through the process.
