If your cost basis is $8.13......that's all it means. Nobody is 100% certain where we will go post spin-off/RS. You make your decision based on the info you have. You do, however, have to look at what you will own at the end of Distro Day.
Honestly, the majority of the Company's value actually is FTD. Once the fateful day is done, you will be sitting on the same pile of cash but now, the majority of it will be called FTD. A portion will still be called UNTD. What you do with it is your call.
Me? I will probably hang on the FTD and discard UNTD...or I may let the silly thing figure out what it is across the next few months. I'll have so little actual value in the rump UNTD at that time that it shouldn't hurt me too much. And honestly, this will sweep aside a few managers...let's see what the new UNTD team can do without the financial support that FTD gave them. I'm thinking it might be time for some imaginative actions...could be good...could be bad.