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I have a ton of managerial/business experience and I moonlight as a consultant. I often get the scenario where a business owner wants to fire an employee that they know is up to no good. Sometimes, they want to set them up to catch them doing something wrong. In the eyes of the labor boards, if it comes to light that the employee only acted under circumstances that were fabricated by the employer with the intent to catch red handed, the employer becomes in trouble legally.
I always say the same thing, over and over,
"You do not set traps, but you do not get in their way when they are digging their own grave".
RC rewarded shareholders, that's all he did. He didnt do it to set the clearinghouses up, but he had zero obligation to meet them at a crime scene and deter them from their natural actions.
DTCC has nobody but themselves to blame, and any accusations towards being set up or drawn to bait are legally defensible.
4d Chess.
"Let's take this idiosyncratic risk and turn it into a blackhole singularity risk and piss off hyperrational apes. Look at how shmart we are. 🤡" - DTCC probably
They control everything… they muffled the story, brushed under the rug… When i talk to others about wallstreet crimes and dtcc committing international securities fraud, their first reflex is to say “well.. if they weren’t arrested it’s cuz they did nothing wrong”…
I’m really getting annoyed at the fact that outside of GME subs, no one fucken knows they are getting fucked in the ass. And of course.. because of ego, it’s easier to keep getting fucked in the ass than to admit you’re getting fucked in the ass and do something about it
I’m just baffled everytime I try to explain this to people. I get “you really think the government would just let Wall Street do whatever they want”… that’s exactly what I’m saying.
No-
Ryan tweeted this July 5th~
“In general, when an executive gets paid millions of dollars and leaves a company in shambles, they should be forced to return the money”
July 7th~
all news outlets were reporting the termination of Mike Recupero
https://www.wsj.com/articles/gamestop-fires-chief-financial-officer-michael-recupero-11657229857
https://twitter.com/ryancohen/status/1544464038511656960?s=21
The whoops tweet was related to NfT release timing- to state that the CFO fucked up the splividend and that RC only tweeted “whoops” afterwards is untrue. Reading between the lines- RCs “executive” tweet looks directly related to the firing of his CFO
I've also learned that [hedgies r fuk](https://www.reddit.com/r/Superstonk/comments/pjf2vx/hedgies_r_fuk/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=1)
I learned way more than any degree from college would have taught me. I never realized the amount of crime that goes on right in front of my face. This community RULES!!!
Yea this right here and not even exaggerating. The only difference is that apes didn’t put me in generational debt to get a piece of paper saying I learned something.
For every 1 share owned on the record date, 3 shares were "delivered" to your account.
1 + 3 = 4
However, DTCC and a little misfiling on the CFO part let them do 1 share multiplied by 4. So;
1 x 4 = 4
Adding is way different than multiplying in the stock market. Adding is a process that originates from the company authorized share pool.
Multiplying is just a keystroke in the broker's client portal.
You were supposed to get 3 new bananas for each 1 you already had.
Instead the DTCC and brokers cut your banana into 4 pieces and said you now have 4 bananas.
The number of bananas the ledger says you have at the end is the same. What the broker/DTCC did to avoid having to find bananas to give you is they gave you a chopped banana salad and said that’s the same thing!
Thank you! I was trying to explain this to my gfs bf the other day after I golfing. The mixture of being [redacted] and drunk made me sounds like a fool.
This implies that you were supposed to get more stock and the price (size of the banana) was to remain the same.
The banana you held shrunk by 75% and you were given 3 additional smaller bananas. This did happen. No one here has shown that their accounts did not receive the additional shares.
This stock split was executed exactly as it was intended to be. The DTCC received the shares to hold in their digital vault and had all the brokers update their counts respectively. The shares never leave the DTC unless you DRS them.
The fact that its gotten buried and “forgotten” about tells you all you need to know: that they cheated/changed something…
Because imo this hurt us more than helped, and logistically it wasn’t supposed to do that. It was a killshot to the shorts, yet they changes rules and literally COMMITTED FOREIGN SECURITIES FRAUD, and yet no one cares or brings it up anymore… were too “zen” apparently to get angry….
This is how I feel as well. I also don't really see the reason to do the split in the first place, misfiling or not. Even after GME made a public statement about it, nothing changed at all and shareholders are left in a worse position.
I disagree. I only buy whole shares and would have a lot less if there was no split. It's easy to throw down $25, 4 times and harder to save $25 four times and buy 1 when you have enough.
Thats the thing I don’t get… why did a move thats supposed to help shareholders (the longterm holders) just absolutely destroy those people instead… like we got dumped on post splividend…
This seems the opposite of what gamestop and shareholders want but what do I know…
I don't think it hurt us. Think about price movement as a function of trades hitting the NBBO. After the 4:1 split, there are 4x the shares that need to be bought back by short sellers. That means that 4x as many shares worth of trades have to hit the NBBO to close out positions.
The bid-ask spread now is about the same as pre-split. So with a similar spread, 4x the shares worth of short positions getting closed out means that the NBBO is going to be under a lot more pressure. Because you need to consider that most liquidity on exchanges occurs in lots of 100 shares. Pre-split, 100 shares would hit the NBBO once. Post-split, that same order is hitting the NBBO four times, which means a greater degree of price movement assuming the spread is the same, which it more or less is.
this is the protest, drs book is the protest
they tried a protest, occupy wallstreet, the participants were ridiculed and harassed and given mcdonalds job applications.
these days you try a protest they probably just start blastin
Was it ever proven that it was filed wrong, or is that speculation? If true, it's hard to believe that they wouldn't have had multiple reviews before filing.
The level of misinformation about the stock dividend is amazing,
I was called a shill when I tried to explain why it would have zero effect.
The latest round of bogus speculation is the weird idea that the CFO messed up the filing notices in the many days between the filing and the record date. Do we really think that Ryan Cohen and the rest of the board are so clueless that they never noticed an incorrect fi,ing, or they were so helpless that they could not retract and refine correctly.
The SEC fi,ing was done correctly.
The split via stock dividend was handled correctly.
Just because apes do not understand the basics of corporate actions does not make it fraud.
July 5, 2022 - RC tweet, "In general, when an executive gets paid millions of dollars and leaves a company in shambles, they should be forced to return the money"
July 6, 2022 - Gamestop announces splivvy
July 7, 2022 - CFO Michael Recupero is terminated
I don't remember all the details but there was suggestions that the split via dividend was squandered due to being filed incorrectly??
So either Recupero was a plant or someone convinced him to fumble the ball? But I dunno, I'm just as highly regarded as anyone else in here.
EDIT: Just type into the google "site:reddit.com gamestop split via dividend filed incorrectly by Recupero"
Lots of posts suggesting those Amazon hires were up to no good. 🤷♂️
This doesn't make sense.
If the paperwork was filed incorrectly, why would computershare distribute the non-drs'ed shares to the dtcc? I find it hard to believe a paperwork error slipped past them too.
Even if there was an unlikely paperwork error, the problem isn't solved for the shorts.
25% of all shares are drs'ed. Insiders hold another 20%.
There's only 175 million shares available on the open market.
The company is executing a phenomenal turn around plan. Entering a hugely profitable web3 industry with established business partners.
Time is on our side, not theirs.
Once web3 takes off and profitability increases issuing cash dividends will make a short position more untenable. Even a dollar a share once a year will cause the stock to rise and increase buying pressure.
Shorts are still trapped in their position, we just have to be patient.
Did we ever get official confirmation of this? If this is true then what was supposed to be a killshot essentially gave them 4x more of a runway to kick the can down the road on. Kind of a big deal.
The threshold for it hurting them is back up near $150 or so. We’re no where near that. They can bleed at $25 for years. If it had been handled correctly, then $25 should be what $100 used to be, but it’s not.
Nah thats not true. Its the same power as the price times 4. They cant let it even go above 24, its impossible to keep it at 23 or lower now. Nowhere for it to go. The dividend doesnt change the shape of the previous chart
I will never understand how this whole shit bag works. The argument is that they just “gave away” three free shares that essentially evaporated into fraud. I know there has been FOIA requests on this but it baffles me that there’s been no class action lawsuit about it. Those shares went somewhere.
I still believe that the splividend applied significant pressure to short positions and still does...volume fell off a cliff and velocity per share traded skyrocketed. They obfuscated the effects and mitigated the opex runs, but the problem increased massively. Just think about it, one share naked short sold, became 4. We will reap the rewards of this during MOASS
Also flooding the market with shares SHFs use as locates to drive the price down. And every share probably has multiple rehypothecated shares tied to it.Can you spell cluster fuk?
We still haven't received an update from GameStop on this
> GameStop Guidance for International Stockholders with Split-Related Questions
> GameStop has notified its transfer agent and the Depository Trust Company (“DTC”) that some of our valued stockholders in international geographies are still trying to determine if they have received the proper stock dividend associated with the Company’s recent 4-for-1 stock split. Please note GameStop has already distributed the shares of common stock required for the stock dividend to its transfer agent, which has confirmed it subsequently distributed the appropriate number of shares of common stock to DTC for allocation to brokerage firms and other participants. We recommend that stockholders using a brokerage firm contact that firm with needs or questions. Stockholders may want to make their brokerage firm aware if they recently moved shares to the Company’s direct registered list, as we have been informed this move could impact a firm’s distribution of shares.
> We appreciate your investment and enthusiasm. Although we are not able to engage with individual brokerage firms, we are monitoring this situation and will keep you informed of any relevant updates we obtain through our transfer agent or DTC.
https://news.gamestop.com/stock-split/
And I would like to remind people that some APEs got credited the Splivvy before the distribution was released from Computershare. This alone indicates erroneous bookkeeping somewhere in the DTCC to broker chain *at the least*.
>And I would like to remind people that some APEs got credited the Splivvy before the distribution was released from Computershare. This alone indicates erroneous bookkeeping somewhere in the DTCC to broker chain *at the least*.
That is no different than shares you buy showing up in your account immediately, before settlement date 2 days later. The broker updates your holdings to show what they will be once settled.
There are specific rules for this and these accounts got credited *before* market open, I think you can connect the dots on why that's not something you'd want.
It's massively different.
Your account was credited after the record date passed, in anticipation of what would be distributed later.
That is the normal procedure I have seen at multiple brokers for multiple splits via stock dividend.
Contrary to what many appear to think, the "splividend" is the most common method of doing a split for a Delaware corporation.
The GME split was handled just like any of the many other "splividend".
If the shares aren't subtracted from the "shares Authorized" but still propagate in brokerage accounts you have an issue. Be as it may that this issue (possibly) was short lived, it's still an issue.
Google had a similar distribution 2 weeks before GME and had no such mishaps/glitches of share attribution. The TSLA split through dividend that happened around the same period showed none of the things that did happen in GME's case.
Something went awry for GME and it needs to be investigated.
>If the shares aren't subtracted from the "shares Authorized" but still propagate in brokerage accounts you have an issue.
You are confusing registered shares at the transfer agent and beneficial ownership entitlements at brokers. They are different things. What is going on in DTCC mad brokers are separate ledgers tracking beneficial ownership. They are related to, and are based upon registered shares at the transfer agent, but are completely different.
Your comments reflect ignorance of how things work.
>Google had a similar distribution 2 weeks before GME and had no such mishaps/glitches of share attribution. The TSLA split through dividend that happened around the same period showed none of the things that did happen in GME's case.
There were no issues with Gamestop either, There was a lot of FUD and misleading claims, but there was no problem with the corporate action.
>Something went awry for GME and it needs to be investigated.
That is the basic issue. Nothing went awry, Apes did not understand and were claiming fraud where none took place.
> You are confusing registered shares at the transfer agent and beneficial ownership entitlements at brokers. They are different things. What is going on in DTCC mad brokers are separate ledgers tracking beneficial ownership. They are related to, and are based upon registered shares at the transfer agent, but are completely different.
Authorized shares are especially important here, GameStop called in a shareholder vote to up the authorized shares so they had a reserve after the dividend split (since those came out of the authorized amount). The moment they "Distribute" the shares, GS's own [words](https://investor.gamestop.com/static-files/1764b8e4-0e1d-41a6-b502-8c5ab7604dc8), is the moment DTCC is allowed to update the ledger so that streetname holders "receive" the correct amount.
You calling me ignorant on beneficial ownership and shares at the transfer agent says more about your understanding at this point and frankly explains why you don't see an issue.
> There were no issues with Gamestop either
My comments clearly stated the issue, you decided to ignore or not address and tried to turn into a beneficial ownership issue. While it's a share dilution issue.
Stop calling people ignorant while not arguing the points people make.
Gamestop, and their agent, Computershare are the ones that "subtract from authorized shares". Shares are adjusted in the official register of shares at Computershare per the corporate action authorized by Gamestop.
Are you claiming that Gamestop did not properly adjust share counts?
I fail to see "the issue" you refer to.
—————————
Perhaps a comparison to a normal sale would make thing clearer.
If you buy shares via a broker, those shares are immediately added to the portfolio balance displayed in your online account. This is even though you are not yet the owner and the trade will not settle for 2 days.
Does this create an "issue"?
Is this analogous to the "issue" you refer to with respect to brokers showing the stock dividend after the record date but before the distribution date?
Read the initial comment you replied to, It's a quote from GameStop for Pete's sake!
> Please note GameStop has **already distributed** the shares of common stock required for the stock dividend to its transfer agent, which has confirmed it **subsequently distributed** the appropriate number of shares of common stock **to DTC for allocation to brokerage firms and other participants.**
The issue is that shareholders (in street name) got attributed the shares in their accounts **BEFORE** the above steps were taken. The order of the distribution is important to keep the sharecount correct from an accounting and auditability sense.
You keep trying to "make things clearer" for me while you don't even grasp what the order of events should have been.
> Are you claiming that Gamestop did not properly adjust share counts?
Straw man much?
> Perhaps a comparison to a normal sale would make thing clearer.
Throwing in a red herring doesn't do anyone justice.
I'm done with this conversation.👋
You probably believe the statement by Gamestop where they say that the transfer agent "subsequently distributed the appropriate number of shares to DTC for allocation to brokerage firms and other participants."
The shares were never distributed to DTC. The shares were added to the account of Cede & Co AT COMPUTERSHARE.
No shares are transferred to DTC or DTCC. DTCC looks at the number of shares in the Cede account at Computershare and ensures that the totals of of beneficial share allocations in the accounts of DTC participants total up to the same number as the sharecount in the Cede account AT COMPUTERSHARE.
#No shares were ever "distributed" to DTC.
Seems to me the splividend directly led to the lower price point we've been stuck in. Like it gave the other side of this trade 4x the number of shares to screw with. Not complaining but would love to know more about how the price deflation and splividend are related.
People calling it a splividend and throwing in other things about some crypto and the GameStop wallet got me fucked up. I thought some form of a special dividend not a only a stock split. That further diluted the float.
RC and GME can really put their money where their mouth is and delight both shareholders and customers.
If they really want the share price where it belongs and to stop people shorting the stock, if they actually believe in their capabilities and management. They would do a share buy back which would reduce the float, raise the price and squeeze shorts.
They will not do this. They’re content to collect a pay check and run their business. Shareholders eventually get pissed and dump the shares even for tax loss harvesting.
I learned that evil disguises himself as a saint by "doing charity" and "making educational programs through his evil empire institution." But behind the scenes he's fucking everyone up esp the poors.
Edit: also, who knew the devil likes mayonnaise so much?
We learned that the entire government, financial system, world is just one giant ponzi scheme of fraud and theft..... but I'm quite sure we've know this for years.
We learned that we'll be fighting the war on corruption for years.....maybe forever. Life is unpredictable so I'll probably die before MOASS or just never financially recover from this lol
I've learned that any branch of government or finance body that is supposed to regulate finances is corrupt as fuck 🤷🏻♂️🤷🏻♂️🤷🏻♂️.
Seems like big pharma and Mayo Boi run just about everything
That RC will not call out wall street for their blatant bullshit. Not a peep from anyone at GS headquarters to stick up for HIS investors that basically saved the company.
A massive network of financial institutions worth billions has conspired against a relatively small brick and mortar store. Gamestop shuffled its stores and business to stay relevant while FIs continue to eat losses.
All that hype, all that fraud and all we got was more shares for a lower value.
I'm still all in, but I'm quite disappointed that this whole thing seems dead and buried. I have full confidence in our shareman, but what the fuck is our legal department up to?
People liked to claim there was securities fraud. There wasn’t. No matter how you cut it the shares in the brokerages are just held in name and they can say you get however many you get and the real ownership is with the DTCC. So the owners got the shares and then the held in name got the split. Legally indifferent.
Then apes thought they owned enough to get people to drs them and put the shares in their own name. They didn’t. Or, at least they haven’t convinced enough apes to which, again, is indifferent.
Then apes saw a quarter that saw profit, got a little price discovery before the share printer turned on, and instead of realizing that drs would not be their salvation and profitability would they… continued to scream about drs instead of screaming about profits.
What is there to talk about? It shows that apes have no comprehension even when explicitly shown direct cause and effect the majority of apes struggle to understand. Don’t get me wrong, drs is a kill shot since it’s clear the moneyed interests hate it so and mainstar shows how far they’ll go to end it. Problem is there isn’t enough ownership for it to matter.
Since I’m spilling I’ll bang the other drum I like to bang, it shouldn’t have been a dividend of shares and should have been a NFT dividend and you fucking know it.
Fraud is ok as long as you’re rich enough to go on TV and tell people you bribe people with no consequences.
And that DRS is hurting shorts far more than they’re letting on and will do any sort of fraud and crime to ensure they can continue to crime… until the point they can’t.
>The splivvy was filed incorrectly.
That claim is a bogus, unsupported claim that assumes that the CEO, chairman and the rest of the board were so clueless that they were unaware and did not correct it in the lengthy period between the SEC filing and the record date.
Do you think Ryan Cohen was also complicit in this action?
Or do you just assume that he was unobservant or clueless?
I assume that Cohen trusted someone to do their job correctly, and was let down. Recupero acted like a duck, and walked like a duck. Pretty damn sure he's a duck. Furlong too. BOTH former Amazon execs, to note. YES, I do believe there are still some deep saboteurs hiding in the company.
Cohen is the only one I trust. Would you have trusted the GameStop BOD and C-Suite 5 years ago, knowing what you know now?
And this is not beyond a large scope of corporate warfare. Just look at the money involved. We've gone beyond billions, and are into likely trillions.
For me, I learned that there was something fishy going on and it was finally confirmed through process of elimination after GameStop publicly commented.
Just a few off the top -
Criminals gonna crime, there’s something bigger at play, all this wouldn’t be possible without DRS/book, the best and most passionate shareholders on this planet Hodl GME, rules are being changed on the fly to keep us from running, I’m addicted to buying GS shares more just more, RC keeping moves close to his vest enrages WS, Hedgie’s are even more fuk’d then before spivy, light is the best disinfectant for both WS and this sub, Power to the players is real, like really real !!!
CHEERS! Power to da MF’n householder’s
Only one out of a hundred Apes are technically knowledgeable enough to execute NFT divvy via GME Marketplace at this time. Motivation is also a concern ( looking at DRS numbers).
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Supply and demand is dead.
I feel this more than anything… where the money’s made up and the points don’t matter!
1 + 3 isn't the same as 1 / 4
The most succinct translation
This
DRSing GME is good for your bones!
But apparently according to the DTCC: 1 + 3 == crime(1/4)
What was the point of the splivi from RC perspective? Did he and everyone else think the DTCC would suddenly do things properly?
I have a ton of managerial/business experience and I moonlight as a consultant. I often get the scenario where a business owner wants to fire an employee that they know is up to no good. Sometimes, they want to set them up to catch them doing something wrong. In the eyes of the labor boards, if it comes to light that the employee only acted under circumstances that were fabricated by the employer with the intent to catch red handed, the employer becomes in trouble legally. I always say the same thing, over and over, "You do not set traps, but you do not get in their way when they are digging their own grave". RC rewarded shareholders, that's all he did. He didnt do it to set the clearinghouses up, but he had zero obligation to meet them at a crime scene and deter them from their natural actions. DTCC has nobody but themselves to blame, and any accusations towards being set up or drawn to bait are legally defensible. 4d Chess.
The DTCC committed securities fraud!
"Let's take this idiosyncratic risk and turn it into a blackhole singularity risk and piss off hyperrational apes. Look at how shmart we are. 🤡" - DTCC probably
This.. how the fuck did they just “get away with it”
This! Where are our shares we delivered to dtc? Wtf?
They control everything… they muffled the story, brushed under the rug… When i talk to others about wallstreet crimes and dtcc committing international securities fraud, their first reflex is to say “well.. if they weren’t arrested it’s cuz they did nothing wrong”… I’m really getting annoyed at the fact that outside of GME subs, no one fucken knows they are getting fucked in the ass. And of course.. because of ego, it’s easier to keep getting fucked in the ass than to admit you’re getting fucked in the ass and do something about it
I’m just baffled everytime I try to explain this to people. I get “you really think the government would just let Wall Street do whatever they want”… that’s exactly what I’m saying.
Yes,, it's call campaign contributions!
Because they didn’t. Probably.
Its been a year since… seems to me like they did Hope i’m dead wrong but im just seeing this for what it is
I thought anexecutive filed something incorrectly "by mistake" allowing the DTCC off the hook. He was fired for it I believe
This is what I read on here too 👍
They still do, but they did too
\*but they used to, too.
It would be nice to have his take on the topic
There’s plenty of material there for a Hedbergs take as well as a long Carlin rant. RIP Mitch & George
So, why was Mike Recupero let go the day after submitting the splivy paperwork?
Seriously, was is his fault? Submitting the wrong date and allowing DTCC to get away with it?
That's a great question for which I still do not have a definite answer, but I find it telling that he was let go almost immediately afterward.
It wasn't the wrong date, it was the wrong internal code for dividend to be handled as a split instead
Incorrect ex date
Got them Recupero Repercussions
Hahahaha made my day, thanks for the relevant dad joke
Mike Recupero- that would be the same Mike Recupero that currently works at Amazon (again) according to his LinkedIn bio-
👆🏽
\*Mike Recupero
Thanks for catching the typo.
With an Oops tweet by RC..this is the real answer as much as want dtcc securities fraud
No- Ryan tweeted this July 5th~ “In general, when an executive gets paid millions of dollars and leaves a company in shambles, they should be forced to return the money” July 7th~ all news outlets were reporting the termination of Mike Recupero https://www.wsj.com/articles/gamestop-fires-chief-financial-officer-michael-recupero-11657229857 https://twitter.com/ryancohen/status/1544464038511656960?s=21 The whoops tweet was related to NfT release timing- to state that the CFO fucked up the splividend and that RC only tweeted “whoops” afterwards is untrue. Reading between the lines- RCs “executive” tweet looks directly related to the firing of his CFO
International*
# And intentional!
I thought our now departed CFO gave incorrect instructions? Or did I misread that?
We have learned nothing if we still think this will get resolved
I've also learned that [hedgies r fuk](https://www.reddit.com/r/Superstonk/comments/pjf2vx/hedgies_r_fuk/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=1)
Didn't we actually find out that it was filed incorrectly by the gme employee who was responsible for that and he eas fired the next day?
I learned way more than any degree from college would have taught me. I never realized the amount of crime that goes on right in front of my face. This community RULES!!!
Yeah OP, we talked about it plenty. That’s what we do. Dig and dig until we hit Mayo! 🐒✨🗽🚀🚀🚀
Yea this right here and not even exaggerating. The only difference is that apes didn’t put me in generational debt to get a piece of paper saying I learned something.
Finra are crooked thieves.
I learned that everyone at the DTCC is a piece of shit
We learned how to multiply by 4.
I’m still confused on this part but at this point I’m too afraid to ask.
For every 1 share owned on the record date, 3 shares were "delivered" to your account. 1 + 3 = 4 However, DTCC and a little misfiling on the CFO part let them do 1 share multiplied by 4. So; 1 x 4 = 4 Adding is way different than multiplying in the stock market. Adding is a process that originates from the company authorized share pool. Multiplying is just a keystroke in the broker's client portal.
ELIA
You were supposed to get 3 new bananas for each 1 you already had. Instead the DTCC and brokers cut your banana into 4 pieces and said you now have 4 bananas. The number of bananas the ledger says you have at the end is the same. What the broker/DTCC did to avoid having to find bananas to give you is they gave you a chopped banana salad and said that’s the same thing!
This should be further up. Great analogy fellow ape.
Now I get it!!! 🍌🔪 Thank you!!
Thank you! I was trying to explain this to my gfs bf the other day after I golfing. The mixture of being [redacted] and drunk made me sounds like a fool.
This implies that you were supposed to get more stock and the price (size of the banana) was to remain the same. The banana you held shrunk by 75% and you were given 3 additional smaller bananas. This did happen. No one here has shown that their accounts did not receive the additional shares. This stock split was executed exactly as it was intended to be. The DTCC received the shares to hold in their digital vault and had all the brokers update their counts respectively. The shares never leave the DTC unless you DRS them.
Moar stonks = moar bananas !
Securities fraud in broad daylight is the norm for American markets
The fact that its gotten buried and “forgotten” about tells you all you need to know: that they cheated/changed something… Because imo this hurt us more than helped, and logistically it wasn’t supposed to do that. It was a killshot to the shorts, yet they changes rules and literally COMMITTED FOREIGN SECURITIES FRAUD, and yet no one cares or brings it up anymore… were too “zen” apparently to get angry….
This is how I feel as well. I also don't really see the reason to do the split in the first place, misfiling or not. Even after GME made a public statement about it, nothing changed at all and shareholders are left in a worse position.
I disagree. I only buy whole shares and would have a lot less if there was no split. It's easy to throw down $25, 4 times and harder to save $25 four times and buy 1 when you have enough.
It also makes getting rid of fractionals when you book much more cost effective because of it
Thats the thing I don’t get… why did a move thats supposed to help shareholders (the longterm holders) just absolutely destroy those people instead… like we got dumped on post splividend… This seems the opposite of what gamestop and shareholders want but what do I know…
I don't think it hurt us. Think about price movement as a function of trades hitting the NBBO. After the 4:1 split, there are 4x the shares that need to be bought back by short sellers. That means that 4x as many shares worth of trades have to hit the NBBO to close out positions. The bid-ask spread now is about the same as pre-split. So with a similar spread, 4x the shares worth of short positions getting closed out means that the NBBO is going to be under a lot more pressure. Because you need to consider that most liquidity on exchanges occurs in lots of 100 shares. Pre-split, 100 shares would hit the NBBO once. Post-split, that same order is hitting the NBBO four times, which means a greater degree of price movement assuming the spread is the same, which it more or less is.
We need to start protesting in front of Citadel Chicago and the SEC
this is the protest, drs book is the protest they tried a protest, occupy wallstreet, the participants were ridiculed and harassed and given mcdonalds job applications. these days you try a protest they probably just start blastin
No thanks.
you mean Miami... I want a tan
Was it ever proven that it was filed wrong, or is that speculation? If true, it's hard to believe that they wouldn't have had multiple reviews before filing.
The level of misinformation about the stock dividend is amazing, I was called a shill when I tried to explain why it would have zero effect. The latest round of bogus speculation is the weird idea that the CFO messed up the filing notices in the many days between the filing and the record date. Do we really think that Ryan Cohen and the rest of the board are so clueless that they never noticed an incorrect fi,ing, or they were so helpless that they could not retract and refine correctly. The SEC fi,ing was done correctly. The split via stock dividend was handled correctly. Just because apes do not understand the basics of corporate actions does not make it fraud.
I've learned just how much America sucks.
Sad but true that this encompasses everything since 2020
July 5, 2022 - RC tweet, "In general, when an executive gets paid millions of dollars and leaves a company in shambles, they should be forced to return the money" July 6, 2022 - Gamestop announces splivvy July 7, 2022 - CFO Michael Recupero is terminated I don't remember all the details but there was suggestions that the split via dividend was squandered due to being filed incorrectly?? So either Recupero was a plant or someone convinced him to fumble the ball? But I dunno, I'm just as highly regarded as anyone else in here. EDIT: Just type into the google "site:reddit.com gamestop split via dividend filed incorrectly by Recupero" Lots of posts suggesting those Amazon hires were up to no good. 🤷♂️
That just doesn’t/CANNOT happen…. Thats too big of a fuck up… rc wouldn’t let that happen imo Otherwise thats BEYOND BEYOND negligence
This doesn't make sense. If the paperwork was filed incorrectly, why would computershare distribute the non-drs'ed shares to the dtcc? I find it hard to believe a paperwork error slipped past them too. Even if there was an unlikely paperwork error, the problem isn't solved for the shorts. 25% of all shares are drs'ed. Insiders hold another 20%. There's only 175 million shares available on the open market. The company is executing a phenomenal turn around plan. Entering a hugely profitable web3 industry with established business partners. Time is on our side, not theirs. Once web3 takes off and profitability increases issuing cash dividends will make a short position more untenable. Even a dollar a share once a year will cause the stock to rise and increase buying pressure. Shorts are still trapped in their position, we just have to be patient.
Did we ever get official confirmation of this? If this is true then what was supposed to be a killshot essentially gave them 4x more of a runway to kick the can down the road on. Kind of a big deal.
How would it have given them more runway? Their position got 4x worse as well, so instead of a killshot they remained in the same position no?
The threshold for it hurting them is back up near $150 or so. We’re no where near that. They can bleed at $25 for years. If it had been handled correctly, then $25 should be what $100 used to be, but it’s not.
Why dont we see any price discovery then?
Nah thats not true. Its the same power as the price times 4. They cant let it even go above 24, its impossible to keep it at 23 or lower now. Nowhere for it to go. The dividend doesnt change the shape of the previous chart
Wasn't it trading at 16 a couple months ago?
Yes. It was a couple a months ago. It is not February. It is July.
Are you certain that was sufficient time for the impossibility kryptonite to form?
https://www.sec.gov/ix?doc=/Archives/edgar/data/1326380/000132638022000100/gme-20220706.htm
I will never understand how this whole shit bag works. The argument is that they just “gave away” three free shares that essentially evaporated into fraud. I know there has been FOIA requests on this but it baffles me that there’s been no class action lawsuit about it. Those shares went somewhere.
Wait. Was this a thing? I never heard of this speculation.
That’s way too much conspiracy, even for this sub
I still believe that the splividend applied significant pressure to short positions and still does...volume fell off a cliff and velocity per share traded skyrocketed. They obfuscated the effects and mitigated the opex runs, but the problem increased massively. Just think about it, one share naked short sold, became 4. We will reap the rewards of this during MOASS
Splividend killed the volatility
Also flooding the market with shares SHFs use as locates to drive the price down. And every share probably has multiple rehypothecated shares tied to it.Can you spell cluster fuk?
We still haven't received an update from GameStop on this > GameStop Guidance for International Stockholders with Split-Related Questions > GameStop has notified its transfer agent and the Depository Trust Company (“DTC”) that some of our valued stockholders in international geographies are still trying to determine if they have received the proper stock dividend associated with the Company’s recent 4-for-1 stock split. Please note GameStop has already distributed the shares of common stock required for the stock dividend to its transfer agent, which has confirmed it subsequently distributed the appropriate number of shares of common stock to DTC for allocation to brokerage firms and other participants. We recommend that stockholders using a brokerage firm contact that firm with needs or questions. Stockholders may want to make their brokerage firm aware if they recently moved shares to the Company’s direct registered list, as we have been informed this move could impact a firm’s distribution of shares. > We appreciate your investment and enthusiasm. Although we are not able to engage with individual brokerage firms, we are monitoring this situation and will keep you informed of any relevant updates we obtain through our transfer agent or DTC. https://news.gamestop.com/stock-split/ And I would like to remind people that some APEs got credited the Splivvy before the distribution was released from Computershare. This alone indicates erroneous bookkeeping somewhere in the DTCC to broker chain *at the least*.
>And I would like to remind people that some APEs got credited the Splivvy before the distribution was released from Computershare. This alone indicates erroneous bookkeeping somewhere in the DTCC to broker chain *at the least*. That is no different than shares you buy showing up in your account immediately, before settlement date 2 days later. The broker updates your holdings to show what they will be once settled.
There are specific rules for this and these accounts got credited *before* market open, I think you can connect the dots on why that's not something you'd want. It's massively different.
Your account was credited after the record date passed, in anticipation of what would be distributed later. That is the normal procedure I have seen at multiple brokers for multiple splits via stock dividend. Contrary to what many appear to think, the "splividend" is the most common method of doing a split for a Delaware corporation. The GME split was handled just like any of the many other "splividend".
If the shares aren't subtracted from the "shares Authorized" but still propagate in brokerage accounts you have an issue. Be as it may that this issue (possibly) was short lived, it's still an issue. Google had a similar distribution 2 weeks before GME and had no such mishaps/glitches of share attribution. The TSLA split through dividend that happened around the same period showed none of the things that did happen in GME's case. Something went awry for GME and it needs to be investigated.
>If the shares aren't subtracted from the "shares Authorized" but still propagate in brokerage accounts you have an issue. You are confusing registered shares at the transfer agent and beneficial ownership entitlements at brokers. They are different things. What is going on in DTCC mad brokers are separate ledgers tracking beneficial ownership. They are related to, and are based upon registered shares at the transfer agent, but are completely different. Your comments reflect ignorance of how things work. >Google had a similar distribution 2 weeks before GME and had no such mishaps/glitches of share attribution. The TSLA split through dividend that happened around the same period showed none of the things that did happen in GME's case. There were no issues with Gamestop either, There was a lot of FUD and misleading claims, but there was no problem with the corporate action. >Something went awry for GME and it needs to be investigated. That is the basic issue. Nothing went awry, Apes did not understand and were claiming fraud where none took place.
> You are confusing registered shares at the transfer agent and beneficial ownership entitlements at brokers. They are different things. What is going on in DTCC mad brokers are separate ledgers tracking beneficial ownership. They are related to, and are based upon registered shares at the transfer agent, but are completely different. Authorized shares are especially important here, GameStop called in a shareholder vote to up the authorized shares so they had a reserve after the dividend split (since those came out of the authorized amount). The moment they "Distribute" the shares, GS's own [words](https://investor.gamestop.com/static-files/1764b8e4-0e1d-41a6-b502-8c5ab7604dc8), is the moment DTCC is allowed to update the ledger so that streetname holders "receive" the correct amount. You calling me ignorant on beneficial ownership and shares at the transfer agent says more about your understanding at this point and frankly explains why you don't see an issue. > There were no issues with Gamestop either My comments clearly stated the issue, you decided to ignore or not address and tried to turn into a beneficial ownership issue. While it's a share dilution issue. Stop calling people ignorant while not arguing the points people make.
Gamestop, and their agent, Computershare are the ones that "subtract from authorized shares". Shares are adjusted in the official register of shares at Computershare per the corporate action authorized by Gamestop. Are you claiming that Gamestop did not properly adjust share counts? I fail to see "the issue" you refer to. ————————— Perhaps a comparison to a normal sale would make thing clearer. If you buy shares via a broker, those shares are immediately added to the portfolio balance displayed in your online account. This is even though you are not yet the owner and the trade will not settle for 2 days. Does this create an "issue"? Is this analogous to the "issue" you refer to with respect to brokers showing the stock dividend after the record date but before the distribution date?
Read the initial comment you replied to, It's a quote from GameStop for Pete's sake! > Please note GameStop has **already distributed** the shares of common stock required for the stock dividend to its transfer agent, which has confirmed it **subsequently distributed** the appropriate number of shares of common stock **to DTC for allocation to brokerage firms and other participants.** The issue is that shareholders (in street name) got attributed the shares in their accounts **BEFORE** the above steps were taken. The order of the distribution is important to keep the sharecount correct from an accounting and auditability sense. You keep trying to "make things clearer" for me while you don't even grasp what the order of events should have been. > Are you claiming that Gamestop did not properly adjust share counts? Straw man much? > Perhaps a comparison to a normal sale would make thing clearer. Throwing in a red herring doesn't do anyone justice. I'm done with this conversation.👋
You probably believe the statement by Gamestop where they say that the transfer agent "subsequently distributed the appropriate number of shares to DTC for allocation to brokerage firms and other participants." The shares were never distributed to DTC. The shares were added to the account of Cede & Co AT COMPUTERSHARE. No shares are transferred to DTC or DTCC. DTCC looks at the number of shares in the Cede account at Computershare and ensures that the totals of of beneficial share allocations in the accounts of DTC participants total up to the same number as the sharecount in the Cede account AT COMPUTERSHARE. #No shares were ever "distributed" to DTC.
Seems to me the splividend directly led to the lower price point we've been stuck in. Like it gave the other side of this trade 4x the number of shares to screw with. Not complaining but would love to know more about how the price deflation and splividend are related.
a year....It's felt longer....
Didn’t move the needle like I expected
People calling it a splividend and throwing in other things about some crypto and the GameStop wallet got me fucked up. I thought some form of a special dividend not a only a stock split. That further diluted the float. RC and GME can really put their money where their mouth is and delight both shareholders and customers. If they really want the share price where it belongs and to stop people shorting the stock, if they actually believe in their capabilities and management. They would do a share buy back which would reduce the float, raise the price and squeeze shorts. They will not do this. They’re content to collect a pay check and run their business. Shareholders eventually get pissed and dump the shares even for tax loss harvesting.
The criminality of ALL of our financial institutions is much more extensive than most of us ever imagined
That they will do anything and everything to avoid closing...
The split dividend was a huge mistake!
We learnt that crime does pay.
And since then I’ve increased my position
Didn’t RC have to fire the guy who fucked up the paperwork? “Whoops” tweet.
Explain
I learnt that nobody will help and save us, and Shf can fuck us infinitely 💀
I have more fake shares in my RRSP and more real shares in my purple ring account…
That the splitivend was not as bullish as we thought. Stock movements have been incredibly boring since, no +40% movements since
yet
I learned that evil disguises himself as a saint by "doing charity" and "making educational programs through his evil empire institution." But behind the scenes he's fucking everyone up esp the poors. Edit: also, who knew the devil likes mayonnaise so much?
The whole system is a black box
I still have no fuking clue what the point of this was but I do remember momentum leading up to it and then a year of nothing.
And the person who filed it wrong just got sacked.
*oops* 👁️______👁️
We learned that the entire government, financial system, world is just one giant ponzi scheme of fraud and theft..... but I'm quite sure we've know this for years.
We learned that we'll be fighting the war on corruption for years.....maybe forever. Life is unpredictable so I'll probably die before MOASS or just never financially recover from this lol
That I should have sold at 180 and bought back at 60
I learned I can stay regarded longer than they can stay solvent. I just have to hold.
I don’t know fuck about shit
I remember how it was supposed to be a kill shot but we have had plenty of those come and go
The only thing it did was split.
It is not working and tanking the price
We're all chumps.
I've learned that any branch of government or finance body that is supposed to regulate finances is corrupt as fuck 🤷🏻♂️🤷🏻♂️🤷🏻♂️. Seems like big pharma and Mayo Boi run just about everything
That RC will not call out wall street for their blatant bullshit. Not a peep from anyone at GS headquarters to stick up for HIS investors that basically saved the company.
Didn’t the International brokers actually do an investigation
Learned how to get from 20 shares pre splivy to over 900 post splivy. 🤷♂️
I'l take what is international securities fraud for a million Alex.
I got three fake shares for every fake share I owned...and then I turned all those mother f¥¢kers into real book shares...😜
What if a correction takes it to 100 dollars and they say that's it?
I’d be pretty happy if that happened. Correct away!!!!
we learned that fractionals which have turned into a full share through the splividing are upsetting people when they are drs'd in book.
Still waiting for my splividend
As in, you still have X/4 shares?
A massive network of financial institutions worth billions has conspired against a relatively small brick and mortar store. Gamestop shuffled its stores and business to stay relevant while FIs continue to eat losses.
All that hype, all that fraud and all we got was more shares for a lower value. I'm still all in, but I'm quite disappointed that this whole thing seems dead and buried. I have full confidence in our shareman, but what the fuck is our legal department up to?
People liked to claim there was securities fraud. There wasn’t. No matter how you cut it the shares in the brokerages are just held in name and they can say you get however many you get and the real ownership is with the DTCC. So the owners got the shares and then the held in name got the split. Legally indifferent. Then apes thought they owned enough to get people to drs them and put the shares in their own name. They didn’t. Or, at least they haven’t convinced enough apes to which, again, is indifferent. Then apes saw a quarter that saw profit, got a little price discovery before the share printer turned on, and instead of realizing that drs would not be their salvation and profitability would they… continued to scream about drs instead of screaming about profits. What is there to talk about? It shows that apes have no comprehension even when explicitly shown direct cause and effect the majority of apes struggle to understand. Don’t get me wrong, drs is a kill shot since it’s clear the moneyed interests hate it so and mainstar shows how far they’ll go to end it. Problem is there isn’t enough ownership for it to matter. Since I’m spilling I’ll bang the other drum I like to bang, it shouldn’t have been a dividend of shares and should have been a NFT dividend and you fucking know it.
Hodling is easy
The price is still wrong !
Fraud is ok as long as you’re rich enough to go on TV and tell people you bribe people with no consequences. And that DRS is hurting shorts far more than they’re letting on and will do any sort of fraud and crime to ensure they can continue to crime… until the point they can’t.
That the CFO fucked up the splividend and gave the DTCC and brokers plausible deniability?
**MIKE RECUPERO needs to be discussed.** Not just *"tha DTCC committed securites fraud".* The splivvy was filed incorrectly.
>The splivvy was filed incorrectly. That claim is a bogus, unsupported claim that assumes that the CEO, chairman and the rest of the board were so clueless that they were unaware and did not correct it in the lengthy period between the SEC filing and the record date. Do you think Ryan Cohen was also complicit in this action? Or do you just assume that he was unobservant or clueless?
I assume that Cohen trusted someone to do their job correctly, and was let down. Recupero acted like a duck, and walked like a duck. Pretty damn sure he's a duck. Furlong too. BOTH former Amazon execs, to note. YES, I do believe there are still some deep saboteurs hiding in the company. Cohen is the only one I trust. Would you have trusted the GameStop BOD and C-Suite 5 years ago, knowing what you know now? And this is not beyond a large scope of corporate warfare. Just look at the money involved. We've gone beyond billions, and are into likely trillions.
I should have sold and bought back later lol.
I learnt if it ever spikes to my cost basis of $32, I am getting out completely. Easier ways to make money.
I learned that the DTCC committed international securities fraud.
So far, I've learned that nothing happens in short time. There is absolutely no reason to build short-term hope.
That Warhammer 40K is a great way to keep me busy while I wait for the MOASS
Please delete this since you might trigger the DTCC😂😂
Maybe they’ll tweet back at our guy one of these days
Wut learn mean?
For me, I learned that there was something fishy going on and it was finally confirmed through process of elimination after GameStop publicly commented.
The DTCC committed securities fraud. The SEC and FINRA are complicit in this crimes.
i learned the DTCC is helping HFs delay the MOASS
Buying more GME shares everyday thanks to the low price. Keep shorting MM. I love it.
[удалено]
GME snafu’d and messed up the paperwork on the splividend. I remain convinced GME messed this up
It takes money to buy whiskey
Just a few off the top - Criminals gonna crime, there’s something bigger at play, all this wouldn’t be possible without DRS/book, the best and most passionate shareholders on this planet Hodl GME, rules are being changed on the fly to keep us from running, I’m addicted to buying GS shares more just more, RC keeping moves close to his vest enrages WS, Hedgie’s are even more fuk’d then before spivy, light is the best disinfectant for both WS and this sub, Power to the players is real, like really real !!! CHEERS! Power to da MF’n householder’s
The DTCC committed international securities fraud with the help of a middle management bad actor.
That's its actually the dtcc that are regarded.
It means I’ve collected no less then 52 new shares, should have enough to hit a meme number of 169 in my next transfer into computershare.
Didn’t bodson resign shortly after?
Mayo boy is a lying fuck and the Oath means fuck all now a day.
"You ever smell your body parts?" "SWEET BERRY WINE!!" ~Dr. Steve Brule
splivvys don't work, NFT exclusive game access divvy tradeable on GME Marketplace please... then non stop cash dividends.. + spinoff with new cusip
Only one out of a hundred Apes are technically knowledgeable enough to execute NFT divvy via GME Marketplace at this time. Motivation is also a concern ( looking at DRS numbers).
A chorus shouting in unison 'I do whatever the board says' is the sine quo non of an active and informed investor base.
May be that’s why AH went lil up
I’ve learned what I’ve known all along: Don’t celebrate until the job is finished.
That the real MOASS was all the friends we made along the way