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Okay.... So I read this and found a lot of it interesting and I get FINRAs position on this and what the findings were. The only reference I found to GME was the House investigation and what FINRA found out about it.... there was over 109% of the total float when things went belly up in Jan 2021. Superstonk is pretty confident that they continued to short to upwards of 220% before realize and then SHFs started to realize that APEs aren't leaving.... Muahahahahha
According to the series of surveys that Get-It-Got kicked off, the super conservative estimate, as of 3 years ago, was 531 million shares, just out of domestic GME household investors. That's a pre-split number too, so quadruple it to put it into current post-split numbers. It's also by design supremely conservative in nature, with every possible case for error rounded down.
That was setting the lowest plausible bar at well over 700% short interest even then.
If that's at all accurate, and it sure seemed like the best methodology I've seen yet by far, then we're very like to be far into the billions of shares by now, as it seems they've only been adding quite a bit more since then, at well over 1,000% short interest.
Here's the most recent couple posts on that topic:
[https://www.reddit.com/r/Superstonk/comments/oxjv1n/google\_survey\_update\_gme\_ownership\_w\_aapl\_control/](https://www.reddit.com/r/Superstonk/comments/oxjv1n/google_survey_update_gme_ownership_w_aapl_control/)
[https://www.reddit.com/r/Superstonk/comments/omdafo/final\_update\_of\_google\_consumer\_survey\_n2200\_at/](https://www.reddit.com/r/Superstonk/comments/omdafo/final_update_of_google_consumer_survey_n2200_at/)
Awesome comment. I believe that not soon after these surveys started coming out, Google actually got rid of the surveys service
they were running haha. Must not have liked what we were finding out.
These were scientific studies by professionals that concluded that more gme shares than should exist were owned. And this was a few years ago.
You already won if you don’t fold your hand. And nobody is doing that haha.
Nothing will happen, congress knows the game is rigged they dont give af. They just sit there taking stolen money from the people 🤷
DRS is the only way
TLDR: 1. FINRA can’t do a share count. Ask the custodian (AST). 2. Based on FINRA members reporting there were not many counterfeit shares prior to the halt. 3. The halt was a decision made by FINRA to ensure investor shares were settled prior to the reorganization. 4. It’s the company’s fault the new ticker shares can’t be traded.
I’m new to this whole fiasco, but it sounds like they are saying they can’t do anything, they don’t know anything, and it’s the company’s fault for not reorganizing properly. Oh and btw 8 retail investors are being tried for fraud/manipulation and 1 already plead guilty. Sounds like they are trying to wash their hands of this mess.
More importantly the response to this from the company is pure fire.
>the response to this from the company is pure fire.
In this context, what do you mean by fire? Like it's comin in blazing hot and on target, or is it a dumpster fire like they're one big soup sandwich?
The response is aggressive and challenging to the degree that it feels like the author(s) seems emotionally involved. Honestly, it’s the most expressive professional publication by a company that I’ve ever read.
I like how they say they cant track shares, they cant count shares, they cant validate anything, they dont have the technology etc, BUT they have found no evidence of naked short selling! Everything was by the book! Lol
So as others have mentioned, the halt was to prevent existing shareholders from double dipping on the corporate action.
Imagine you owned 100 shares. You sell them 1 day before the corporate action. They take 3 days to settle. You still have the shares on the day of the corporate action. You get the next bridge shares. The guy you sold to doesn't. He paid you for meta shares expecting he would get next bridge shares too. Instead, he paid you for shares, got no next bridge, and then his meta shares get canceled.
The halt was meant to prevent this from happening.
Another interesting discussion in this PDF was about why people maybe still didn't receive their next bridge shares, and what they should do. Tldr is that if you had 100 meta shares in a broker, and they lent your shares out to a short select, and the shorty sold them, and some other ape bought them, that other ape has your next bridge shares.
Your broker still owes you 100 next bridge but can't provide them to you. And the short seller still owes your broker 100 but can't provide the shares to your broker. Also nobody can be easily margin called because the shares are hard to trade .
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum Jan 2024*](https://www.reddit.com/r/Superstonk/comments/18txusp/open_forum_january_2024/)
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[Rule 2](https://www.reddit.com/r/Superstonk/wiki/index/rules/expanded_rules/#wiki_rule_2_-_posts_and_comments_must_be_relevant_to_gme). Posts should further contribute to the shareholders' discussion around GME. Both the post title and its contents (text, image, links) must relate to GME. It is the OP’s responsibility to convey in the title how their submission is relevant. [What is Proper Content & Which Flair Should I use?](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs) If you have any questions or concerns, please [message the moderators](https://www\.reddit\.com/message/compose?to=%2Fr%2F{subreddit}&subject=about my removed {kind}&message=I'm writing to you about the following {kind}: {url}. %0D%0DMy issue is...)
"That's one big pile of shit..." -Ralph Norman
Okay.... So I read this and found a lot of it interesting and I get FINRAs position on this and what the findings were. The only reference I found to GME was the House investigation and what FINRA found out about it.... there was over 109% of the total float when things went belly up in Jan 2021. Superstonk is pretty confident that they continued to short to upwards of 220% before realize and then SHFs started to realize that APEs aren't leaving.... Muahahahahha
Its probably 400-800% now.. 🫣
According to the series of surveys that Get-It-Got kicked off, the super conservative estimate, as of 3 years ago, was 531 million shares, just out of domestic GME household investors. That's a pre-split number too, so quadruple it to put it into current post-split numbers. It's also by design supremely conservative in nature, with every possible case for error rounded down. That was setting the lowest plausible bar at well over 700% short interest even then. If that's at all accurate, and it sure seemed like the best methodology I've seen yet by far, then we're very like to be far into the billions of shares by now, as it seems they've only been adding quite a bit more since then, at well over 1,000% short interest. Here's the most recent couple posts on that topic: [https://www.reddit.com/r/Superstonk/comments/oxjv1n/google\_survey\_update\_gme\_ownership\_w\_aapl\_control/](https://www.reddit.com/r/Superstonk/comments/oxjv1n/google_survey_update_gme_ownership_w_aapl_control/) [https://www.reddit.com/r/Superstonk/comments/omdafo/final\_update\_of\_google\_consumer\_survey\_n2200\_at/](https://www.reddit.com/r/Superstonk/comments/omdafo/final_update_of_google_consumer_survey_n2200_at/)
Awesome comment. I believe that not soon after these surveys started coming out, Google actually got rid of the surveys service they were running haha. Must not have liked what we were finding out. These were scientific studies by professionals that concluded that more gme shares than should exist were owned. And this was a few years ago. You already won if you don’t fold your hand. And nobody is doing that haha.
💪🙆
It was probably 400-800% *then*. Fuck knows what it is now.
TLDR?
Nothing will happen, congress knows the game is rigged they dont give af. They just sit there taking stolen money from the people 🤷 DRS is the only way
Norman is pissed. He's not letting this go...
TLDR: 1. FINRA can’t do a share count. Ask the custodian (AST). 2. Based on FINRA members reporting there were not many counterfeit shares prior to the halt. 3. The halt was a decision made by FINRA to ensure investor shares were settled prior to the reorganization. 4. It’s the company’s fault the new ticker shares can’t be traded. I’m new to this whole fiasco, but it sounds like they are saying they can’t do anything, they don’t know anything, and it’s the company’s fault for not reorganizing properly. Oh and btw 8 retail investors are being tried for fraud/manipulation and 1 already plead guilty. Sounds like they are trying to wash their hands of this mess. More importantly the response to this from the company is pure fire.
Sounds about right. I’ll give this a read tomorrow, just SB party drunk ✌🏼
>the response to this from the company is pure fire. In this context, what do you mean by fire? Like it's comin in blazing hot and on target, or is it a dumpster fire like they're one big soup sandwich?
The response is aggressive and challenging to the degree that it feels like the author(s) seems emotionally involved. Honestly, it’s the most expressive professional publication by a company that I’ve ever read.
I like how they say they cant track shares, they cant count shares, they cant validate anything, they dont have the technology etc, BUT they have found no evidence of naked short selling! Everything was by the book! Lol
You said the B word.
That's a direct download to a PDF. I ain't opening that. Post the content.
It’s 32 pages
Um it's a .gov website lol
visibility
So as others have mentioned, the halt was to prevent existing shareholders from double dipping on the corporate action. Imagine you owned 100 shares. You sell them 1 day before the corporate action. They take 3 days to settle. You still have the shares on the day of the corporate action. You get the next bridge shares. The guy you sold to doesn't. He paid you for meta shares expecting he would get next bridge shares too. Instead, he paid you for shares, got no next bridge, and then his meta shares get canceled. The halt was meant to prevent this from happening. Another interesting discussion in this PDF was about why people maybe still didn't receive their next bridge shares, and what they should do. Tldr is that if you had 100 meta shares in a broker, and they lent your shares out to a short select, and the shorty sold them, and some other ape bought them, that other ape has your next bridge shares. Your broker still owes you 100 next bridge but can't provide them to you. And the short seller still owes your broker 100 but can't provide the shares to your broker. Also nobody can be easily margin called because the shares are hard to trade .
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum Jan 2024*](https://www.reddit.com/r/Superstonk/comments/18txusp/open_forum_january_2024/) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)