A lot of people here know what is DRS - Direct Registry System.
If you have been following the Gamestop saga, you know that brokers and hedgefunds manipulate share prices by short selling and by creating phantom shares based on shares belonging to their retail customers which is held in the broker's name.
DRS is one way to ensure the shares are held in your name and the broker / hedgefunds cannot fuck around with it to manipulate the market. r/SuperStonk is basically dedicated to DRS of GME shares at this point.
What most of you might not realise:
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Just like GME, the Black Hats most probably pulled the same tricks to drag the DWAC stock price down when the markets opened yesterday. Some Anons who have been following GME have said that what happened yesterday was equivalent to what happened to GME over weeks. A.k.a just like 2020 elections, they had to pull out all stops in fraud to bring Trump's DWAC down.
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DRS is not the only way to achieve protection against this. There is another way. Its called Deposit/Withdrawal At Custodian. Its called ..... drumrolls please .... DWAC
Is this just one more coincidence? DWAC gets hammered by the bad guys just like they did to GME and just like they have been doing to any company that does not play by their rules. But it also so happens, one of the 2 ways to stop this is by DWAC.
This is no co-incidence! Trump could have picked any suitable name for the SPAC for his Social Media, but he picked Digital World Acquisition Corp which stands for DWAC.
Trump is giving us a YUGE hint. He is saying that DWAC will destroy the Wall Street Big Money evil guys.
Buckle up folks, we are gonna DWAC the shit outta the deep state.
So with DRS and DWAC the broker transfers the name on the share from their street name to your name as the end result. When they do that, they have to transfer the real share certificate, not the phantom ghost shares, so the share gets accounted for.
Also, the actual process is quite involved, calling up the Brokerage firm is just one step :)
I contacted fidelity too DRS and they told me "you only do that if you are shorting the stock sales". Is that true?
No. They were wrong. DRS is just you taking custodianship of your own shares. They were referring to rehypothication. which is where your broker can borrow your owned shares. At Fidelity, specifically, you have to give them explicit consent for this to happen.
Thanks for clearing that up.
Haha, no they have all been known to lie, especially when it came to GME. Infact by not doing DRS, you are allowing them to short the stock, so their response is telling.
for all those new to the stonks, I highly suggest going over to superstonk on plebbit and reading all the DD they have accumulated there. It will fill you in on how fucked the markets are and harden your diamond grip. Literally the only thing people need to do to beat these fools is believe in your investment and hold onto it longterm. A ton of their fuckery is hinged on manipulating retail traders into panic selling their shares.
Read the DD. become immune to the fake manipulated daily price movements and hold your investment to what YOU think its worth not what some "smart money" criminal on wallstreet thinks. Achieve Zen. Diamond hands.
That’s a straight up lie lol. Like so bad of a lie I’m calling it malicious, they scared.
Hedgies r fukt.
At vanguard eight days ago, they had so many DRS requests for GME, they streamlined the process. Got a confirmation of request, waiting for computershare snail mail account number.
The shares are linked to your ss# so they come out of the pool.
I guess I’ll do the same w DWAC...
Even a big euro CEO let this strategy slip during an interview (on CNBC?) earlier this year...let me look for a link
please post proof...this is criminal
I’m new to this. I got 10 GME, 4 DWAC. I clicked the link regarding DWAC your DWAC. Reading through it slowly and carefully. Hopefully this process is simple as being brand new to this I don’t wanna fuck anything up from user error.
I would say for now just HODL both shares. For GME you might want to do DRS, its been explained on r/SuperStonks in detail. As for DWAC, right now the name is a clue, but as more things happen it will be clear what our role is in this.
Thank you my fren.
DWAC is not listed on computershare for DRS - how do we DRS or deposit/withdraw @ custodian the DWAC security?
You need to find out who holds the shares for the company owners of DWAC. Gamestop goes through Computershare.
I think we may need to now DWAC our shares and not DRS
https://www.reddit.com/r/GME/comments/qcuxt1/whats_the_difference_dwac/hhipx8y/
spread the word
How is that done, and what are the benefits/differences? A wrinkle brain needs to break this down, or people will think this is a FUD campaign to get apes to stop DRS.
Do we have to have a physical certificate to DWAC? Investopedia says this, “ To deposit your shares to your broker via DWAC, shareholders must provide original stock certificate(s), the DWAC deposit form, and applicable fees.”. Seems DRS is simpler, just a call and request, but not as quick as I’ve heard brokerages drag their feet getting the transfer done.
I agree DRS is simpler, I think the naming is more of a clue to whats coming rather than actual call to action.