A scenario where that would be dangerous- holding long with tax benefits, you sell now with a loss exceeding write off amount, R/S occurs, (D) on and big news hits and some brokerages will not be able to allow entry, price goes up beyond split price, and even if you can get back in at a good price post news and split, you lose out on long term tax benefits if you are trying to sell within year. Long story short, with what is happening with the company (many value adding events), selling a large long position speculating a disastrous split that might not likely happen for a while (due to substantial increase in AS) is a bigger risk than simply holding, imo.
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