Inverse Cramer: this tells me the GameStop theory is true. Are we about to see fireworks?
(media.greatawakening.win)
🐸 OK, CRAMER! 🏳️⚧️
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But, I'm not a stock player or anything and I apologize if this is a retarded question.
But if there is only a limited amount of shares and way past that number have been sold how do you know you're holding legit ones? And how would it work out if you went to cash them in, only to find the number of legit shares have been paid out already and they are not bound to pay out past that original number?
I thought the big incentive to buy GME was because was a inexpensive way for the little guy to put a hurt or possibly bankrupt the crooked hedge funds that were attempting to short the company and make big bank.
I hoping you guys that have some are going to profit immensely, I'm just trying to understand it :)
You can direct register your shares with whatever company’s transfer agent. In this case ComputerShare is GameStop’s transfer agent and they provide GameStop with the ledger of share holders.
Currently 160k people own ~50% of the available shares on the market, not including institutions shares.
This is what they call a pro gamer move.
Ooooo. Thank you very much.
If you DRS your shares and a squeeze happens, the delay in selling DRS'd shares could make you miss the highs of the squeeze.
Superstonk blasts anybody who questions DRS as fud. Personally, I have to question such an undisputed narrative allowed on Reddit. Every time I wander over there the sub is filled with DRS threads. I mean... it's Reddit for one and WSB was completely infiltrated over night... So I'm inclined to consider that DRS is beneficial to hedgies and powers that be with vested interest. That said... I suspect there are no shortage of investors who care fuck all for the money and are simply in for the cause. I haven't seen a counterargument to DRS benefit in exposing synthetic shares.
The real play with DRS is that it removes shares from the DTCC and brokers, which tightens the availability, and then of course once all shares are registered with the transfer agent, it will be locked and totally obvious if shares are still being traded on the market, and possibly trigger a recall from the DTCC. Then be fireworks.
None of us knows really what will happen but DRSing shares will at a minimum shine a light on the corruption.
Speculation is that GameStop will pull it's shares from the NYSE and move all of its owners to its own nft based exchange citing proof of manipulation using synthetic shares. A lot of companies have problems with similar price manipulation and they might also jump ship and follow.
Man I hope so :). Thank you for that explanation, makes sense. I can't wait to see what happens :)
Valid,question about the excess shares and we don't really know the answer. We will find out here real quick