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Did the parent company's stock show a big drop in price - reflecting the spin off - on the 14th or the 28th?

From the closing price on the 13th to the open on the 14th, it dropped about 2%. From closing price to closing price, it dropped 3.7%. Meanwhile the new security eventually hit the market at about 7.2% of the parent company's price (and it was a 1:1 distribution). So the parent company's stock dropped by something like 30-50% the market price of the new stock on the 14th. It didn't really move on the 28th, which is when the new stock started trading.

If it happened earlier, presumably on the 14th, then I'd be tempted to say you need to come up with a value on that date.

What would I do in this case? The only thing I can think of is to take the first available market price, which was on the 28th. For stocks that don't trade every day, you can interpolate or take an average. But in this case there is no prior trading history.


T
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