Newer investor. 12 at TD Ameritrade and 1 at CS. Diamond hands with opposable thumbs. That said…
-
What if reserve notes are replaced with treasury notes before/during/after MOASS? How will that affect apes?
-
I have not DRS with CS yet. How much does this matter and why? I intend to, but what are pros/cons?
-
Regarding DRS, should I do that before or after the upcoming stock split and why?
-
During/after MOASS, what about selling via CS or TD? Is one better, safer, easier or faster?
I understand all responses are not “financial advice”. Let’s discuss :-)
DRS is critical for the stock to moon,we are on track to lock up all the shares in 6-9 months. Then all other shares are proven fake.....
It easier and more accurate to sell with your broker,but they may go broke if they have to go buy your shares. Most everyone on superstonk is so pissed off,they don't care if they lose some money DRSing.
No cell no sell,is what many say....
Check out https://www.reddit.com/r/Superstonk/ or https://www.reddit.com/r/GMEJungle/, they have pinned DD that will answer all of your questions.
Direct link to the DRS megathread that once again has become unpinned: https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/
So, I'm not an expert, but I've been following the saga for months and I've done a bit of digging here and there.
Computershare is a tough nut to crack. It is either, the ultimate F-U to the hedgies or it is a backdoor right into the Ape's stronghold.
I'll explain: most signs point to Computershare being a solid entity. Meaning, I've done a lot of searches about the companies and it's execs and there are no blatant red flags. However, here are some thing that my gut tells me are fishy.
A. Numerous members of the board uses to work for entities like the Rothschilds, Arthur Anderson, Ernst and Young, Bank of New York, Royal Bank of Scotland, etc. Which means that they are either 1. Just another extension of the hedgies (all those companies mentioned above are either connected to Soros, the hedge funds themselves, or shadiness in general). 2. They saw these companies and people for who they were and formulated a plan to bring some light to the darkness that is the US stock market.
B. Computershare aggressively bought up all it's competition over the past 10-15 years. So again, 1. Hedgies or 2. Good people who wanted to bring some way of winning for the every day people.
C. Computershare was fined by Ireland for something dealing with not giving back ownership of their shares to the rightful owners. Two possibilities here: 1. They're corrupt and didn't want the owners of the shares to hurt their shorting hedgie buddies. 2. They were shafted by shady peoples from Ireland.
D. The cult of DRS reminds me of the NPCs.
E. Their website says that sometimes it takes weeks to "find a buyer" and that makes the skeptic in me think "you mean gives the hedge funds weeks to tank the price after moon base."
That having been said, I really haven't been able to come to a conclusion one way or the other about whether or not Computershare is indeed legit and necessary or just another way for the hedge funds and their cronies to screw over the average person.
As for the stock, even if they find a way around the rocketship, I'm in for 23 shares and I'll probably end up buying more before it's all said and done and I'm pretty close to DRSing half of them just to be safe.
I called CS to learn a little about them. I'm still learning about stocks. I have 60 gme and was going to DRS half. I asked how easy it was to sell with them. Was told about the batch shares as well. The one thing that didn't set well with me was if the dollar amount that I wanted to sell my shares for totaled more than 2 million, they would not sell my shares until they received a "Letter of Instruction. "
I cannot provide this letter before the sale, it cannot be verified by phone, e-mailed, faxed, or texted. This letter must be received by snail mail (their words) and then at that point they would contact me and "work with me" on what the actual sale price per share was since it may be different from when I actually tried to sell it versus when they processed my letter.
This sounds like another way to keep us from enjoying the moon prices. Even the representative I spoke to agreed with me which surprised me. As I've said, I'm still learning so if anyone could explain this to me a little better I'd really appreciate it.
Are you outside USA? I have read Ameritrade can do it with a phone call.
Most us brokerages can do it with one call,Europeans have to jump thru a bunch of hoops,and it takes a long time.
Transfer to ibkr then drs from there
What brokerage? Last time I did it from E-Trade and Fidelity it took a week for each. If you don't see them in a Computershare account by the end of the week call your broker again and make sure they actually did send them, there have been shenanigans where they "forgot to hit send" after a call.
You might want to look into that. I’d hate for you to be left on earth when the rocket takes off
Unless they sell your position out from under you. Just a warning, there is legitimate concern about this topic
DRS (Direct Registration System) is a service offering by The Depository Trust Company (DTC) that provides registered shareholders of the issuer with the option of holding their assets (shares) on the books and records of the transfer agent in book-entry form instead of a physical stock certificate.
If you have any shares in CS then those there are already DRS'd. It's anywhere outside of CS that is not.
DRS puts the shares in your actual name on the GameStop register rather than them being in the name of the proxy "Cede and Co". This also means that shady shit can't be done like your shares being sold without your permission like what can in an extreme case by a brokerage like TD Ameritrade.
Shares DRSed before the stock split will split in CS and already be DRS'd. Those that split in a brokerage would need to be DRSd after the split if you want to.
I don't know how a new currency may affect apes. I don't think anyone knows.
Pros of DRS: Registering shares in your name takes them out of the hands of the DTCC and therefore removes the ability of SHF's to borrow them from brokers or use them as a locate for shorting. Once the entire float is DRS'd, it will prove the crime. DRS quickens MOASS.
There is a chance brokers will not give you new shares, but instead may give you monetary compensation for any new shares you are due. You would rather have the shares, as they will be worth way more than the $20 bucks or whatever they might give you. Brokers may also go bankrupt when GME hits moon prices. You don't have that risk with CS as they are properly in your name and not the brokers name.
About selling, you can sell from CS just like a broker, but you may have to do it in writing as their online systems only go up to a $214,748 limit. If the share price goes higher, write a letter to CS or visit a local CS office and put something in writing.
Long story short, DRS your shares is the safest way to go and better for MOASS, but with some caveats that are not big problems, just a difference from dealing with a traditional broker.
Personally, I have 5% of my holdings in a broker and 95% in CS. My plan is to sell the 5% first when it hits the moon, and only the 95% if it goes to andromeda.
If I were you, I would go to r/SuperStonk and click on "Due Diligence" at the top. Lots of great stuff has been catalogued there by apes over the past year that proves the MOASS. Knowledge is half the battle. (joke: The other half is violence)
OP: Regarding ComputerShare, I intended to buy ONE share and deposited enough to do that. I did this to create my account there. I ended up with 1.256 shares. They said they don't/can't sell "individual shares". I am still confused by that. Can anyone explain?
It means you can't buy a single share at the price at that moment like with brokerage because the way CS works your place an buy for a dollar amount and then they do a big batch buy once a day for everyone that placed an order and you end up with the number of shares that equals that amount at a time. Hence it ends up fractional. Don't worry as when you sell you can sell the fractional share just as easily and unlike buying selling is an immediate transaction (some have already tested that and the sale happened within minutes.)
You can sell them,people have tested it.
The biggest advantages of DRS are that it takes the shares out of the swamps hands. Shares that have been DRS are not "beneficially owned" through an allocation to the brokerage but are held in the individual's name. If your shares are with the brokerage, then GME doesn't recognize you as a shareholder. If your shares are DRS, GME knows your name.
I see DRS as the stick it to the man play with shares I never intend to sell.
Thanks.