I haven't looked at reddit/Superstonk in weeks. What is all the recent hoopla about DRS and ComputerShare? My initial understanding this a way to get your shares under YOUR name instead of under for example Ameritrade's name in case the broker goes under. Am I way off? Please discuss...
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One way, I'm told, to achieve the reduction in shares able to be borrowed is to put in a sell order for your shares. Put in the sale amount at something like a million/share so you don't actually have them sold on the exchange and make the order GTC. It's my understanding that brokers are not supposed to borrow shares with a sell order on them. Of course if the brokerage is allowing naked shorting there isn't much anyone can do to stop that.
Interesting! I just read that my broker (TDA) won't let you put in a sell order over like $500 above current market value. There are so many shenanigans. I'lll look into this strategy... and keep trying to get my DRS through. Thx.
transfer from TDA to Fidelity..its free
then transfer a % from fidelity to CS
CS has 1 million limit per share at the moment.
See you on the moon