XPost due to me being new
Apologies, I’ve just nuked the old sub after the “Moving Servers” post had 3 months to cook!
Original Text (if you needed the text to crosspost it elsewhere):
This is the thing that baffles me. What we know is the DRS number on the quarterly reports was suddenly changed from the Computershare number to the Cede number. What we believe is that this was done due to pressure from the SEC. What would happen if a shareholder vote went through to publish both numbers side by side? I find I cannot predict the result. Does the SEC actually have the right to withhold auditing information from the shareholders? I doubt it.
What i don’t get is how come the total equals 305m instead of 305+ short interest? Any thoughts on it?
So, a while back Gamestop stated that they would pull their shares from the DTC/Cede if they determined that it was mishandling the company stock (or words to that effect). They may have changed the wording regarding DRS numbers if the DRS+Cede numbers don’t line up and Gamestop doesn’t want (or isn’t ready) to take that action.
To get the actual numbers, wouldn’t tallying the entries on the register at the next meeting be the most straightforward path?
I would not expect that would help.
If you were able to view the GameStop stock ledger, or the stock list, in either case the sum total of all entries will be equal to the amount of issued shares.
Assuming the short thesis is correct, it is happening on other levels. Either DTC is complicit, and knows that DTC members together own more shares than Cede is supposed to own through their record holdings with Computershare OR individual DTC members owe out more obligations to their clients than they are reporting to DTC.
I agree that the entries on the ledger would not be cumulatively more than the amount of issued shares, but I was under the impression that it would be possible to get an accurate tally of the DRS count from the ledger, which is what we seem to be lacking.
I understand better what you had meant now.
Personally I believe the numbers GameStop is reporting are accurate. I am not sure why they changed the language - and I can not claim to know exactly why we’ve been fairly stagnant for a year. I don’t want to make any assumptions that there is ill intent in one of the few primary source filings that retail has access to, and in one of the most key metrics of this saga.
(rough numbers) ~300mil issued shares and ~75mil DRS holders + ~225 shares held with Cede is the same regardless of which number you put first in the sentence. Either way, A+B=C or C-A=B, you know?
It is very baffling!
What will it take to get us over the 25% line and why has it been stuck there for almost a year now? There was steady growth before and people are still buying.
Of course there was a dip of 1.2 million in the most recent quarter, but it lines up eerily close to the 1.2 million shares that were with mainstar that got removed from DRS during the same quarter.
I wonder if we have DRS’d all of the book-entry (aka electronically recorded) shares and all cede has left in its vault is jumbo certificates that represent 100s or 1000s or perhaps even millions of shares each. I don’t know if they can break them like a bank note.
Especially when all I see on ss is people adding to dem purple circles
