GME approves 4:1 stock split dividend.
(media.greatawakening.win)
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Doesn’t this quintuple the available stock for the short sellers to settle their positions? It was my understanding that the GME strategy was to limit their ability to cover their positions because they shorted more stock than was available.
No it’s a dividend not a split. All the synthetic shares will have to be bought.
Quadruple.
Yeah, seems weird, huh?
Of course, companies registered with the SEC are prohibited from stock manipulation, even if the price goes up.
So, there's that ...
Small nit, but they’re issuing 4 new shares, so there will soon be 5 shares for every 1 share that exists now.
No, it's a 4:1 split, so they are issuing 3 shares for every 1 existing share, making it 4 total.
Thanks for clarifying, I read elsewhere it was a dividend.
DRSed shares that get split are automatically DRSed.
I don’t think it’s a split though, they’re issuing new shares as a dividends. I’m not sure what that entails, but it will almost certainly have different rules than a split.
That is something I've been wondering, and I don't know the answer.
Will be interesting to see how it plays out.