Not sure if it's relevant to the plan but hedge funds shorted GME so much and never closed their positions. Tons of individual investors bought GME and are not selling. Hedge funds continue to short GME to suppress the price. If they close their positions the price will sky rocket and bankrupt wallstreet. The whole GME fiasco is exposing the wall street cabal and it's entities.
Not really a stalemate, hedge funds are bleeding. They are losing tons of money every day. There is proof of this because Citadel had to post their earnings report. Also people are "DRSing" (Direct Register Share) their shares, which means removing the shares from the DTCC and putting the shares in their own name. The more shares removed from the DTCC the more harder the hedgies will have suppressing the price. Individual investors have Direct Registered over 50% of outstanding shares. This has never happened in history.
Me personally, I like the way the company is transforming their business model. They are going to be successful. If there is no major short squeeze I won't mind, because my research shows they are setup to become a very profitable company.
Only a few brokers will allow IRA accounts to be DRSd without taxing them. I use Fidelity and to transfer to DRS, I had to have Fidelity move the shares to my cash account and then DRS from there. They charged me 20% for Federal taxes.
Buy GME cause the company is great and the stock is massively short. Right now retail has over 50% of the float locked up in computershare. Soon we will have it all.
Not sure if it's relevant to the plan but hedge funds shorted GME so much and never closed their positions. Tons of individual investors bought GME and are not selling. Hedge funds continue to short GME to suppress the price. If they close their positions the price will sky rocket and bankrupt wallstreet. The whole GME fiasco is exposing the wall street cabal and it's entities.
I see. That really helps. Thanks.
So, is it a stalemate? Should I buy some GME to help the cause? (Not asking for financial advice)
Not really a stalemate, hedge funds are bleeding. They are losing tons of money every day. There is proof of this because Citadel had to post their earnings report. Also people are "DRSing" (Direct Register Share) their shares, which means removing the shares from the DTCC and putting the shares in their own name. The more shares removed from the DTCC the more harder the hedgies will have suppressing the price. Individual investors have Direct Registered over 50% of outstanding shares. This has never happened in history.
I suggest you read more at https://old.reddit.com/r/superstonk
Tons of resources to help you make your decision.
Me personally, I like the way the company is transforming their business model. They are going to be successful. If there is no major short squeeze I won't mind, because my research shows they are setup to become a very profitable company.
Really grateful. Thanks.
Can you DRS shares held in a IRA?
Only a few brokers will allow IRA accounts to be DRSd without taxing them. I use Fidelity and to transfer to DRS, I had to have Fidelity move the shares to my cash account and then DRS from there. They charged me 20% for Federal taxes.
You can through a custodian, but they are never really in your name.
Buy GME cause the company is great and the stock is massively short. Right now retail has over 50% of the float locked up in computershare. Soon we will have it all.