No longer a ‘Meme Conspiracy’ - GME affirms they DID deliver shares to DTCC
(news.gamestop.com)
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So we should have gotten 3 extra shares at the ~$130 price each, but the DTCC fucked us and split our shares into 4 parts equaling ~$38 each?
No, this is always the intention. They wanted to lower the price of the share so more people could afford to buy them.
Some companies just do a share split. IE. they instruct all investment companies to (in this case) multiply all shares by 4 and dividing the price by 4.
Gamestop did a stock dividend split. So Gamestop increased the total number of shares by 4 and handed the DTCC something like 200m shares to divvy out to the investors as a dividend with a value of 0. (So the value of shares should have decreased since there are 4x) As of right now, all we know is investment companies were instructed by the DTCC to just multiply their shares by 4 and were never given any of the newly issued shares. Where are they?
And did they do that so that the hedge fund fucktards could continue to cover their short interest, where as they would have owed 4x the amount?