We are the proud owners of DWAC and <1 share of GME (traded for my measly Dollar General starter stock). It's all down so much. Will we see a bounce back? I'd really like for this to pay off! I invest with a set amount of money when I can. Could this be one of those stocks that people wished they'd bought into and kick themselves for not doing so?
I am still learning and it's taking awhile for it to click in my noggin.
There is ONLY ONE way to KNOW for sure if your shares are legit, and registered.
It is the COMPANY that keeps the official records, NOT a third party.
Contact Investor Relations at the company, and ask how many shares are registered in your name.
Anything else is a circle jerk.
Yes, I know. Patrick Byrne says he discovered (due to discovery in a lawsuit) that Goldman Sachs makes most of its profit from lending shares, which probably means they are the #1 naked shorter out there. Or at least, they are the ones allowing the hedge funds to naked short.
Not punished due to regulatory capture. I'm all for taking them down, but the touts have sold a bill of goods about the shorts being in a panic about these two stocks, and AMC.
Just not true. Even if it was true back when the short squeeze happened, that story changed and it is old news now.
OK ... FINALLY ... someone in this thread states a fact (though it is not accurate, it is at least a fact that can be analyzed), rather than this mishmash of nonsense that has been slopped around with innuendo and no real facts.
So, thank you for that (sincerely).
Let's do some REAL analysis on GME for a change ...
(1) GME has 76 million shares outstanding.
(2) Of that 76 million shares, 28% (21 million shares) are held by institutions.
(3) Of the 21 million shares held by institutions, 5 million of that is held by Blackrock (not 9 million -- they have already sold off almost half of their position).
(4) Of the 76 million shares outstanding, 19% are currently short (14 million shares).
(5) In the prior month, it was 15 million shares that were short, so 1 million short shares have been covered in the past month. Not a big deal, one way or the other, but you can clearly see that (a) the short position is less now than a month ago, and nowhere near in danger territory, and (b) Blackrock has been selling shares, not holding on.
https://finance.yahoo.com/quote/GME/key-statistics?p=GME
https://finance.yahoo.com/quote/GME/holders?p=GME
(6) The fact that Blackrock holds a relatively large position is not important, IMO, because they are such a huge fund that they own large positions in a lot of stock. Their GME position is only 6.86% of GME stock, so that is not much.
(7) Last year, when the short squeeze WAS happening (already over and done by now), I jumped into the conversation on GAW and AGREED with you longs that you might be on to something. Back then, I remember the short position was 134%. That means there was a MASSIVE naked short position. So, that had to be unwound.
(8) Problem is, that position WAS unwound, and today it is a small short position that is in no way a threat to any hedge fund or anyone else, unless their entire funds are in a short on GME, which would be so stupid, it is not likely at all.
(9) There are touts (who are liars) on Reddit Superstonk that CLAIM they can figure out "super secret hidden" short positions buried inside these big hedge funds that are not reported in the numbers quoted by Yahoo and others (who get their numbers directly from the SEC). When challenged, they NEVER have any evidence that this is the case. They are just blowing smoke up everyone's ass.
Moving on ...
(10) The company loses money, consistently:
https://finance.yahoo.com/quote/GME/financials?p=GME
(11) Their loses are at a rate that could potentially eat up their cash ("burn rate"), but they have held on by (a) borrowing more money, and (b) issuing new stock. Borrowing and diluting is not a successful business model.
https://finance.yahoo.com/quote/GME/balance-sheet?p=GME
(12) Sooner or later, they will have to start making a profit. Maybe they will. Maybe they won't.
(13) We are in a bear market, and stocks of companies that lose money do not do well in a bear market.
(14) Sure, there could be some catalyst that could make it an outlier, but that is a big gamble in a bear market. It is a much better gamble in a bull market, but the stock did not go up even during the multi-year bull market -- with the exception being during the short squeeze in late 2020-early 2021.
The GME managment comes up with weird ideas to promote the company due to the original business model being a failure in the current environment. The touts push their own narratives, as well, and the whole thing confuses a lot of people.
Maybe it will be a good place to park money some day. But that is not today, IMO.
I am open to changing my mind if circumstances change, but I am the one here on GAW who has been right over the past year. Those trying to slam me have been wrong.
Just look at the chart. The chart says it all.
Good luck to anyone playing the game.
ComputerShare is the DRS agent for GME.
Did GME tell you that, directly?
Or was it a rumor on the internet?
Even if GME told you that, it does not change the fact that every corporation is required to keep a register of who owns its stock.
That is a state law in every state.
In which state is GME domiciled? Do you know?
Can you provide any legal citation that shows that the corporation itself does not have to maintain its own register of owners?
Are the shares registered in YOUR name, or ComputerShare's name?
If they are not in YOUR name, and not physically in YOUR personal possession (so you can see and touch the certificate(s)), then you are still vulnerable.