Reverse stock split problem

Unless there is a reasonable explanation why my account activities show that the reverse stock split left me with +$1.37 and -$1.37.

SSP activities are reverse stock splits

Alpaca’s clearing house (Apex) incorrectly posted a transaction for -$1.37 then reversed that with another transaction for +$1.37. They were associated with SSP and have no net impact on the account value. They cancel each other and net to zero. The account balance was unaffected.

Though rare, incorrect and then reversed transactions such as these occur with all brokers. Alpaca chooses to not filter them for our clients but, understandably, they may create confusion. Sorry for that.

That being said, is the transaction to buy 1 share of CDR on 11/24 an order that you entered?

That can’t be right. The ‘SSP’ action creates a net negative change in the account.

I bought CDR $1.37, then SSP auto exited the position for $1.37 on 11/26. At that point it had no net effect on the account balance.

The SSP action on 11/30 is a net negative on the account. (-$1.37, +$0)

By chance, do you have a short position in SSP?

Could you slack me the email you use for your Alpaca account. I can look into it in more depth after finding the transaction history. My slack name is `Dan Whitnable (Alpaca). Thank you.

I don’t have a short position in SSP, nor any position in SSP. This isn’t referring to the SSP ticker. If it was referring to the SSP ticker then it would say ‘Sell 1 SSP’

After looking deeper into this, here is the synopsis of the transactions in the account:

  • 11-24 bought 1 share of CDR for $1.37
  • 11-26 CDR had a 1:6 reverse split leaving 1/6 of a share of CDR
  • 11-26 Apex assumed that fractional shares weren’t allowed removed CDR and credited account for $1.37
  • 11/30 Apex realized fractional shares were allowed so debited $1.37

So, the issue now is “the check is in the mail”. It sometimes takes Apex 2-3 days to issue the shares back to an account. At that time you will have 1/6 of a share of CDR.

This was an odd situation. Get back to if the position doesn’t show up by the end of the week. Sorry for the inconvenience.