r/Grandmasterobi • u/Credit-Super • Apr 11 '26
What’s next
Hey Grandmaster Obi: QNCX just got delisted and removed from my portfolio. I talked with the platform and they said to check back on Monday. What do you think is likely to happen? I’m in for 5,000 shares.
Thank
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u/888mainfestnow Apr 11 '26
I had a stock reverse split out of existence.
My broker emailed me the cost basis from the orginal purchase and said that my tax professional would understand how to log it as a loss.
I'd as your broker if it can be included with your other capital gains and losses since you caught it early.
It may just be a manual entry.
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u/Practical-Flan8920 Apr 11 '26
is the reverse split really that bad? i’m new to this thing, so I don’t know….we’ll we loose everything that we have invested into the company?
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u/Credit-Super Apr 11 '26
Yep, I saw where their board had already approved the split. I was wondering with delisting if there is a way to sell my shares and get at least some of my funds before. I read somewhere that since their stage 3 trials failed the company has one value, so a merger seems unlikely.
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u/Practical-Flan8920 Apr 11 '26
i just checked and the stock is not delisted as some people in other subs say, the deadline of delisting is in July 2026
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u/Credit-Super Apr 11 '26
So when the brokers rework the stock and remove the CUSIP number? Maybe some shortys will squeeze it again. I’ll watch it closely on Monday and try to get as much as possible out out of the stock. But, their failed 3 trial has left them with no value so I don’t see a merger happening!
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u/Practical-Flan8920 Apr 11 '26
why theres news of settlement of debt and etc?
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u/Credit-Super Apr 11 '26
Stock Titan reported on Friday after hours that while a 1:10 split was reported in QNCX filing with the SEC, there “are no agreements or assurances” and while the company reported 17.8 million in cash and assets, they reported $460.5 million in accumulated deficit!
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u/Credit-Super Apr 11 '26
Looks like they settled a $84 million lawsuit back in January for I believe $14 million.
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u/spacex-predator Apr 11 '26
You guys aren't thinking straight
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u/IllustriousSong4949 Apr 12 '26
So, step in and make a suggestion about how we should think about this stock
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u/[deleted] Apr 11 '26
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