Sell vs. Wait for spin off
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Alf's gut appears to be stronger than mine, but that is why my 401K is in a conservative area and returning below average.
I'm only risking 100 shares, not any of the family fortune, or as Miss kKitty calls it, the family mis-fortune.
And this money is kept in a separate account, kinda like a Christmas fund account. Back in the earlier days of email and internet I had access to a news service which allowed me to get stock info as soon as it was released. I played the stock split game, buying as soon as a company announced an upcoming split, and selling soon after they split. While I made hefty returns %-wise, the amounts hardly ever exceeded four digits. So no I don't have a strong gut for this, and no I'm not rich.
Retirement accounts, 403s and IRAs, are invested aggressively. I'm taking out almost double the RMD and they're not shrinking. That'll change in the next couple of years as my life expectancy decreases and the IRS wants its due.