The concept is shares held at a broker only exist in your name because the broker says they do. You get a brokerage account that lists your name and the numbers of shares you have. What we have learned is there’s no guarantee the broker actually possesses your shares. And if they do have your shares, there’s little to prevent them from lending out your shares against your wishes to people wanting to short them driving the price down.
Because many GME holders (myself included) believe the stock was heavily naked-shorted we feel a squeeze (the Mother Of All Short Squeezes - MOASS) is imminent.
Registering at Computer Share accomplishes several goals. One, it directly registers your share to your name. Two, your share can not be loaned out to people wishing to suppress the price. Three, if a number that is 100% of the legally issued shares can be directly registered, it will conclusively prove that synthetic shares exist and all shorted positions will be forced to close. (Estimates go from 165% - 3200% of shares existing)
If shorts are forced to close, they will be forced to buy at whatever price is available. Most of us aren’t selling for anything other than generational wealth per share.
As far as how to accomplish moving your shares from your broker to Computer Share, it varies per broker. Some are easier to do than others. You should consult the r/superstonk computer share info page and hope you are using a friendly broker.
Best to do a hybrid method keeping some shares in each location. Computer Share does charge a fee to sell. ($25, I think) Obviously, in a MOASS scenario, that doesn’t matter. But, apes who have tried out the selling methods on CS reported no complaints so far. I have no idea how MOASS craziness could affect CS, but I also wonder how they would affect a broker. Particularly a broker who doesn’t actually own a share that is now worth 6-10 digits.
The concept is shares held at a broker only exist in your name because the broker says they do. You get a brokerage account that lists your name and the numbers of shares you have. What we have learned is there’s no guarantee the broker actually possesses your shares. And if they do have your shares, there’s little to prevent them from lending out your shares against your wishes to people wanting to short them driving the price down.
Because many GME holders (myself included) believe the stock was heavily naked-shorted we feel a squeeze (the Mother Of All Short Squeezes - MOASS) is imminent.
Registering at Computer Share accomplishes several goals. One, it directly registers your share to your name. Two, your share can not be loaned out to people wishing to suppress the price. Three, if a number that is 100% of the legally issued shares can be directly registered, it will conclusively prove that synthetic shares exist and all shorted positions will be forced to close. (Estimates go from 165% - 3200% of shares existing)
If shorts are forced to close, they will be forced to buy at whatever price is available. Most of us aren’t selling for anything other than generational wealth per share.
As far as how to accomplish moving your shares from your broker to Computer Share, it varies per broker. Some are easier to do than others. You should consult the r/superstonk computer share info page and hope you are using a friendly broker.
Best to do a hybrid method keeping some shares in each location. Computer Share does charge a fee to sell. ($25, I think) Obviously, in a MOASS scenario, that doesn’t matter. But, apes who have tried out the selling methods on CS reported no complaints so far. I have no idea how MOASS craziness could affect CS, but I also wonder how they would affect a broker. Particularly a broker who doesn’t actually own a share that is now worth 6-10 digits.