Many complaints have been sent to the SEC by the Wall Street Apes and Superstonk folks. It's probably a lot more than $65 Billion since they've been naked shorting (borrowing) stocks as a means to avoid the inevitable short squeeze for 2 years.
All it takes is one financial institution to do a "Margin Call" where the Hedgefund will have to prove that they have the capitol to repurchase all those fake / naked shares they illegally resold.
Since GME (GameStop) is the most illegally shorted stock, and all the crayon eating apes (GME investors) have direct registered the vast majority of retail stocks, the hedgefund folks like Ken are trapped. The rules say that HAVE to repurchase the shares at current market value ($26 / share).
They initially shorted the shares at around $1 or $4 per share before the 4 for 1 split over the summer.
Hedgies are fooked.
Is there a tutorial on how to buy GME stock and directly register it to yourself? Thank you! :)
It’s super easy, I had all my GME shares at Charles Schwab transferred over to ComputerShare. I did it on a Friday and it took about a week - per the mailed letter from ComputerShare that I received a week after that - so technically two weeks from initiation to the time I received the confirmation letter from CS.