and then I went to my online account and placed a sell order on my shares for $100000 each. I may change that to 1 million each but in any case they cannot now be short traded as I have them under a contract to sell. I don't know if this will help anyone but the article helped me. You can also put the shares into a certificate but this way seemed a lot easier.
Your 'ownership' of those shares is based on an accounting book entry by the broker. You have no proof they were actually purchased on your behalf, or if you just have an 'IOU'. Their promise is as solid as a fart.
By Direct Registering your shares at Computershare, your name is on your shares. They can't be loaned/shorted. There is a record with your name on the shares.
My working assumption is that every institution associated with Wall Street is corrupt.
Thank you very much for your replies. I purchased my shares willing to lose all of my money to FK with Wall Street. Now, I realize that to really FK with them I need to do more. I will do this on Friday. I wonder how many of us who purchased the stock realize that we needed to more than just purchase it and DR it.
Limit (mine was placed as limit $100000) as market would be sold for the going price. I bought my shares to just screw with those who try to screw us. It may be best to get a certificate on your shares. I need to do more research.
So I own some shares of GME and I did not know until now that these shares that I own can still be shorted. I read this article,
https://www.contracts-for-difference.com/borrowing-lending-shares.html
and then I went to my online account and placed a sell order on my shares for $100000 each. I may change that to 1 million each but in any case they cannot now be short traded as I have them under a contract to sell. I don't know if this will help anyone but the article helped me. You can also put the shares into a certificate but this way seemed a lot easier.
Why not drs them? Thats the only way to be sure.
Did you read the article? As I said in my reply, you can certificate them which is the same as your DRS just easier. Thank you
The first comment in that link is from someone who has 30 years in the business and says that is all bs.
Youre putting trust in a system that created this entire problem.
If they have them, they WILL loan them out.
DRS is the only way to be sure, why do you think theyre trying to stop it.
double check that, fren.
Thank you. I will do more research on this and research the process of DRSing a stock.
Your 'ownership' of those shares is based on an accounting book entry by the broker. You have no proof they were actually purchased on your behalf, or if you just have an 'IOU'. Their promise is as solid as a fart.
By Direct Registering your shares at Computershare, your name is on your shares. They can't be loaned/shorted. There is a record with your name on the shares. My working assumption is that every institution associated with Wall Street is corrupt.
Thank you very much for your replies. I purchased my shares willing to lose all of my money to FK with Wall Street. Now, I realize that to really FK with them I need to do more. I will do this on Friday. I wonder how many of us who purchased the stock realize that we needed to more than just purchase it and DR it.
Is that limit or market
Limit (mine was placed as limit $100000) as market would be sold for the going price. I bought my shares to just screw with those who try to screw us. It may be best to get a certificate on your shares. I need to do more research.