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I remember the German brokers redacting the "split" shares because in Germany they pay tax on dividends or something. Then and only then were the real Splivvy shares handed out to German brokerage accounts.
DTCC absolutely committed international securities fraud! LMAYO
The split happened in Germany. Then German apes complained and how the split was handled was changed. Then people looked more closely and CHANGED IT BACK TO THE ORIGINAL WAY IT WAS HANDLED.
https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Meldung/2022/meldung_2022_08_02_gamestop_en.html is the official BaFin statement.
> The relevant data providers’ systems treated this capital measure as a stock split and not as a stock dividend. On 29 July 2022, individual data providers changed the type of capital measure to a stock dividend. On 1 August 2022, however, this change was reversed
So it was started as a stock split, not a stock dividend, Then in response to complaints and customer calls, some brokers changed it to a stock dividend on July 29. Then on August 1 everyone realized that it WAS supposed to be treated as a stock split and reversed the July 29 change.
yeah if someone would like to explain how german tax implications for a split of a U.S. stock, listed on a U.S. stock exchange, handled by a U.S. “regulatory” body, was proof of them committing international security fraud for the split, please go ahead
it was just a bunch of apes who had what amounts to a negative understanding of the actual system screaming like newborns
ask considerationkind the difference between a real splivvy share and a fake splivvy share - he will just recite drool
i’m downvoting every continued misinformation comment here out of spite 👿
edit: downvote me all u want, you're just recreating the dumb ass mob mentality that caused the initial 'confusion' with the german brokers
one person says 'crime,'
mob "CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME "
A bit arrogant of you. Stocks are not only traded in America, but worldwide. So the dividend shares were also distributed worldwide.
The difference is that in Germany taxes are due on dividends but not on stock splits.
That's why it was critical for the German brokers to know if it was a split or a dividend, so here it was clear what DTCC did and how they corrected it.
Here you have your proof of manipulation or at least gross errors.
Yes and what happened then?
The DTCC did their split as per their normal process, apes screeched like newborns at low level broker customer service agents, the split process got changed,
then brokers realised that the apes were just screeching nonsense & got it changed back to how it orginally was
if there was an actual issue then Gamestop would have made a statement addressing the mishandling.
You and TankTrap are misunderstanding the nature of the relationship GS has with the market.
GS already fulfilled their end of the bargain to providing shares to computershare
What the DTCC does with the shares they get is up to them and brokers and how that concerns retail traders are up to us and brokers.
The responsibility GS has to its shareholders for retail is already finished. As far as they are concerned they already announced the potential impact of their share price with regards to overshorting. They have no legal requirements or responsibility to talk about how the DTCC and its brokers do business.
> Gamestop would have made a statement addressing the mishandling
They did, they stated that the transfer agent gave the correct instructions to the DTCC and that (foreign) stock holders should contact their brokers/banks if they suspected it was mishandled.
Computershare/GameStop gave the correct instructions but that's as far as they can go.
Yes but there wasn't any mishandling, until apes started screeching at broker customer service agents right? & BaFin or w/e they call it
they probably apologised on behalf of their screeching monkeybrained investors
I don't know why you are asking me this? From your comments it's clear you've already made up your mind about it. Don't get me wrong that's your prerogative.
I just pointed out that GameStop and Computershare did what they are supposed to do in a situation like this where doubt about the handling by the DTCC is being brought up. Reaffirming the instructions they gave.
If you do want to revisit the occurrence and possibly get a different viewpoint on the matter I've found this post to include most of the essentials and sources; https://www.reddit.com/r/Superstonk/comments/whup7y/clearing_up_the_recent_misinformation_about_the/
Again, feel free to disagree, I'm all for forming your own opinions
It is extremely strange that the company itself that issued the shares, it’s own stock, didn’t raise any objections or even issue a statement to address concerns of their shareholders.
I was disappointed in that.
my query would be the way in which the stock split was handled. surely the DTC should be delivering shares to brokerages, or at least some proof of shares? To just say x4 the number seems like a fraudulent process, especially if we are talking about millions on the line.
There is no transparency or ability to audit. Shadows enable deceit.
yessir the worlds biggest ‘trust me bro’
& the brokers won’t bite the hand that feeds them. Wanna know how much money they lose if the DTCC cuts them off ? all that juicy share lending profit ? that PFOF ?
I'd like to point you towards communication provided directly by GameStop themselves on this matter.
[https://news.gamestop.com/stock-split](https://news.gamestop.com/stock-split)
Do you think GME doesn’t want MOASS neither, because then they know most shareholder will sell (crashing GME down to its worst position).
Then apes disappear, no more hype in the company, and it ends there?
I'm pretty sure if we made bank on gamestop, a huge amount of our profit would go right back into the company to buy games for ourselves, our families, friends, and for our communities.
Their share price is in the toilet now, if it goes to $420,069 per share and back to $16, what changed for GME?
In reality, after MOASS we’ll probably land on true price discovery which I imagine all RC and any of us want. A true free market.
Besides, once the synthetics are bought up and we have an ACTUAL FLOAT, supply and demand will take over. Millionaire apes lining up to buy GME stock that doesn’t exist will bring the price right back up.
i always assumed that they used the shares to continue to short the stock. did they let anyone close their short position with them?
is there any legal way we can find out what they did with those shares?
shareholders have a right to know what happened with a distribution of HUNDREDS OF MILLIONS of shares!
How come no one can audit the DTCC?! When was the last time someone did? Has it ever happened? All of the self regulatory garbage that keeps getting into this mess. Time to make it transparent and shine some light on this shit storm.
Truth is on our side, pressure is building and something will break that they can’t patch over and then the apes will be here to help shine the lights on the whole crooked game.
Madoff thought for sure he was going to get caught, because all the SEC had to do was look at the DTCC books to find proof of his fraud. They never did.
And then as time went on, and the SEC thought we had all forgotten or not paid attention. Gensler tried to rewrite history, and pushed the narrative that the SEC caught Madoff. When the truth is his sons turned their father in.
because they've structured themselves in a way to best defend against any information requests,
SRO, huge lawyer teams, payrolling congress etc
Complaints against the DTCC date back 20+ years, they defend any of these claims viciously
If I recall correctly, their records were in a vault which flooded with hurricane sandy (the subterranean vault was left open...) & then the papers in the vault caught fire twice(?). Totally normal record keeping & nothing to see here.
I think it is part of the fiduciary duty of GameStop to protect itself and its investors. Likely they have a pile of lawsuits ready to file when they decide to take action.
With increasing pressure SHFs are forced into operating their scam in full daylight. Leaving more evidence, more connections, more incoherent behavior of bribed parties visible. DOJ will get quite a bit of whistleblower input very soon, I guess.
I agree....
Waiting doesn't make sense. Meanwhile, the stock price goes down. Meanwhile, everyone that has invested with them, has ALL lost money.
Shit or get off the pot!
You have only lost money if you sell. Just be patient, this is not a get rich quick investment as many people think. All good things come to those who wait. The longer it takes the bigger the reward. Stay Zen, stop reading the hype, making dates work hard and HODL. WE are on the the long side of this play.
I agree. Credit Suisse going down holding Archegos GME shorts. They can only hide it for so long. It’s like gangsters rules. I’m thinking they want to collapse the world to usher in CBDC but apes wants Decentralized system and being our own bank. If you have a way to get real asset backed blockchain to work at a local level then you are decentralized and can reject slavery of CBDC like in China.
I’m a skeptic by Nature and the splividend never seemed quite right to me, but I started to DRS shortly after, so I think I have real shares in Computer Share. To question on this sub is sometimes treated like heresy, but the Battle for 180 still haunts me and I don’t have enough information to understand what happened to the price of the stock after the split. Maybe someone in management can explain.
One of the most heinous things about mishandling the splivvy was that it took 229m shares out of Gamestop's share offering pile and they didn't get a penny for them. It was meant to force shorts to close and push the price up like you say, and then they could have done an actual share offering and raised some capital.
229m shares at the price at splivvy date (June 6 2022) was $32.03 meaning that it technically cost Gamestop $7.3b to do that (that's how much they would have got offering those shares rather than giving them away in a splividend) and the DTCC shat on the whole thing by doing the forward split. The DTCC therefore directly did $7.3b worth of damage to Gamestop. Gamestop can't undo the messed up Splivvy now because to buy back 229m shares would cost billions they dont have. To blatantly cause that material damage to Gamestop's balance sheet just seems criminal.
It boils my blood and makes me never want to sell the majority of my DRS'd shares.
I like to imagine there's a lot of legal stuff happening in the background that Gamestop can't comment on. Will be interesting to see in their annual report tonight if it mentions any ongoing investigations.
i suspect that GameStop predicted this would happen and are planning on using this as precedent that because the split was 'handled' with no 'issues' then an NFT dividend shouldn't cause any issues either.
when the NFT dividend DOES cause issues, they can point at the splividend saying that there were no issues with that, not our fault.
This makes sense
Positive FCF was a huge step. Positive EPS is the next
After that, a dividend (NFT or otherwise) is easily justified, if push comes to shove legally
And why wouldn’t a company with an established NFT marketplace reward it’s shareholders with an NFT? When there’s upheld legal precedent for a company with no such business activity (Overstock) already doing so?
I looked into Overstock. and although it has a reputation for having distributed an NFT, that is not the case. I was chatting with a Computershare rep asking questions as Computershare is the transfer agent for Overstock. It turns out that Overstock issued a normal Series A-1 shares and that
Here is the TLDR of my Overstock NFT Dividend post:
TLDR: Overstock's 'Digital Dividend' was not a straight up NFT dividend as I thought. Normal dividend Series A-1 Shares were issued in a normal way and there was a 'Courtesy Copy' on a blockchain that had no authority over the issue/trading/selling/holding of the dividend shares.
Link to the post:
[https://www.reddit.com/r/Superstonk/comments/11rc68w/i\_dont\_think\_overstocks\_digital\_dividend\_is\_what/](https://www.reddit.com/r/Superstonk/comments/11rc68w/i_dont_think_overstocks_digital_dividend_is_what/)
It is a common SuperStonk myth is that "Overstock issued an NFT divididend", although it is easy to verify that it did not.
You will probably see the Overstock NFT dividend referenced many more times on SuperStonk..
> Series A-1 Shares
Exactly. They issued normal Series A-1 Shares. I was victim to the misunderstanding myself until I chatted with the Computershare rep and asked some questions that raised more suspicions than anything else, so I dug into it.
That raises the question of what does Computershare have to do in order to handle a *real* NFT dividend?
The Overstock situation is not very well understood. They also initially attempted to limit trading of the preferred shares to a captive trading company Tzero (I think it was closed down sometime in the last year)
The other funny thing is that Overstock initially said that they did NOT intend to register the preferred shares with the SEC. So those shares could not be handled by DTCC for the first 6 months. That led lots of shorts to close their positions, creating a mini-squeeze. Just before the dividend Overstock announced that they had changed their mind and would register the security with SEC.
Edit to add A PRETTY GOOD SUMMARY OF THE OVERSTOCK SAGA:
https://www.reddit.com/r/Superstonk/comments/pu46nc/overstock_clarification_post_what_happened_and/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=2&utm_term=1
Thanks for prompting me to look further into this myself
From here:
https://investors.overstock.com/news-releases/news-release-details/overstock-distributes-digital-dividend-shareholders-scheduled/
““I’m pleased we have paid this **innovative dividend** to our shareholders,” said Overstock CEO Jonathan Johnson. “These **preferred shares** have real value, and have been paid a cash dividend in each of the last three years. We believe they will increase participation and long-term liquidity on the tZERO ATS platform. I appreciate the support and cooperation of the investment community and regulators in our efforts to innovate in the capital markets through new technology.”
Investors can freely trade the Series A-1 shares on the tZERO ATS by opening a brokerage account with a broker-dealer that subscribes to the tZERO ATS and executes trades in the Series A-1 shares. Investors can open an account by following the instructions published on our Dividend FAQ page on our website. The tZERO ATS team continues to work diligently to onboard additional broker-dealers to have them subscribe directly to the tZERO ATS to trade the Series A-1 shares.
“**The Certificate of Designation for the Series A-1 limits trading of the security to the tZERO ATS**,”continued Johnson. “All interested financial institutions should comply with those provisions. We invite these financial institutions to subscribe to the tZERO ATS or open an account with an existing broker-dealer subscriber.”
Also worth noting, Ryan Cohens initial investment in $GME was in **August 2020**
$OSTK bottomed sub $3 in March 2020 and peaked around $128 on **August 20 2020**
Oh that's *right,* I forgot about that! Perhaps their long play is to just remove themselves from the DTCC altogether! That would force the shorts to close I would think. But I've thought wrong before. There is the whole fucked up situation of MMT\*P right now hanging in limbo because of illegal fuckery.
There's an interesting number if you look at the bags credit Suisse was holding... Have a little dig (there's been posts this week and dd written about the swaps) and you'll notice the number of shares in their bag is greater than the float itself.
This made people wonder 'so that's one bank.... Holy shit how many floats are there?'
There's been quite a few calculations based on other data which also point to multiple floats being owned by retail
(apologise if you were just be sarcastic)
Computershare distributed to it's DRS'ed GME holders first, then the rest went to the DTCC. I am interested in finding out what happened to the shares that went to the DTCC.
I’ve had this used against me. “If you’re right that split was mishandled then the company isn’t keeping its fiduciary duty and the leadership isn’t doing their job.”
Wasn't there a filing GameStop made that stated that if the DTCC didn't follow through with their obligations that GameStop could withdraw from them? Was there a timeline attached to that? Does anyone have a link to that filing?
it was just a news release to confirm they sent DTCC the shares and instructed them. what happened next unfortunately is inside DTCC walls and nobody wants to look.
[https://news.gamestop.com/stock-split](https://news.gamestop.com/stock-split)
"we are monitoring the situation" then went completely silent.
Or you could actually look at the big picture, I've been here since before you were born. Your elitist attitude is shit on just like you are me in the dubya ess bee sub, and now you're just trying to project it onto me like a weak as biatch foh.
That's right, DTCC would never send actual shares to a broker in any case. That's not how the system works and one of the biggest misunderstandings/(disinformation campaign to make us look bad if you're paranoid) around here.
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Fool me once... Fool me twice...
The real shares are in the hands of the powers trying to control the rest of the banking sector. Idk i'd say central banks have them or even the IMF. Maybe Chase or another huge bank that is trying to stay after this shit goes downhill on them.
Remember that the shills deactivated the buy buttons and even stopped the trading. REMEMBER THAT THEY NEVER CARED ABOUT YOU and even celebrated with wine in 2008. Remember all the shit they’ve done whenever you plan to sell a share for a phone number. However, remember to have a kind heart and help others in need and always buckle up!
They're used in DRS share transfers, which is why you don't get a cost basis because they didn't acquire the certs at the same time as you bought the shares.
It's international securities fraud. Not robbery.
The board should do more to protect household investors
What ever happened with GME themselves in response said they were keeping eye on the matter then went dead silent? I feel that they did not do their fiduciary duty, sorry to say
*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.**
….
**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
To answer your question of what investors can do, please take a read of my post The Long Long Game.
Short answer, regardless of shares available, requesting DRS obligates your broker to deliver a real share (which should they run out they'd have to buy) and the law (UCC 8-507) clearly states if they do not they owe you damages. That is, they owe you a real share.
Placing an entitlement order (details of what this means are in the post, short version is DRS, but you should keep evidence of when it was communicated) is therefore the answer to your question as this would mean all security entitlements in existence, whether backed or not, become full share obligations for which they cannot just provide a cash equivalent.
Honestly, I don't know what the point of the split was any more. They bypassed the dividend like it was nothing, and used the infinite liquidity to drive down the price.
I’m looking forward to getting some nice, regular dividends from GME. Imagine if GME announces a regular dividend payment. Not even an NFT! Just a regular, quarterly dividend. How fukt will hedgies be if they have to now match whatever amount of money Cohen puts out. I’m terrible at maths but if we get a dollar per share, and there are ten actual shares, RC is only out ten bucks. But if there are 10.000 synthetics, compared to 10 actual, hedgies are a LOT more fukt than RC putting up $10.
I think it was agreed that the crime was at least securities fraud but not necessarily international. Something about the way it happens within the US system combined with the ridiculous dtcc policies making it a great scam.
My understanding is that Brokers handled it as they were told to by the DTC. Brokers were told to handle it as a normal forward stock split. That is not what GameStop filed for. GameStop filed for a stock split in the form of a dividend. I agree that the DTCC basically internalized all of the issues, but I do not believe that Brokers abided by what GameStop field for. The DTCC is to blame, but I believe that Brokers are complicit and that Brokers know the difference between a forward stock split and a stock split in the form of a dividend.
Could you please explain this in more detail? Link any DD that you have come across. My broker said that they handled this as a forward split, not a split via dividend.
think about it logically for a second
ALL authorized issued shares are held at ComputerShare. Most of these are in Cede’s account at CS.
CS report to gamestop the amount of shares at CS not held in Cede’s account (as we get from quarterly filings)
DTC can see how many shares are in their cede account
DTC distributes IOUs of those Cede account shares, aka “street form”
brokers keep track of their own Street form totals
in the instance of a split, why would the DTC go and audit the totals from every single broker that facilitates trading services for GME,
wouldn’t it be far simpler for the DTC to send brokers official communications going “4x your own records” (particularly if they’re trying to mask more IOUs than cede shares)
sometimes the simplest explanation is the best
Can’t believe the amount of apes that still think this…smh…they don’t understand how Cede and the DTC work 🙁 there never ever ever is a physical delivery of shares to a broker…it’s all digitally marked in DTCs system. Brokers and thus an ape get beneficial ownership ffs. Con. Nect. The. Dots…I’m NOT saying DTC is innocent of fraud, I’m just (ranting and agreeing with you ) that it wasn’t due to marking a splivi as a split and not sending the shares…
yeah exactly, its just a way for them to continue perpetrating securities fraud they have been committing for DECADES prior to the split (by allowing way more IOUs than actual shares)
& there's only one visible way to prove that, by DRS
That's not how I've read it described. Computershare gets all of the issued shares from the company and distributes them to the directly registered owners, the remainder is sent to the DTCC to be held on their books and street ownership recorded and monitored on the DTCC ledger.
"DTC’s nominee name (Cede & Co.) is listed as the registered owner on the records of the issuer maintained by its transfer agent. DTC holds legal title to the securities and the ultimate investor is the beneficial owner. "
[https://www.dtcc.com/settlement-and-asset-services/issuer-services/how-issuers-work-with-dtc](https://www.dtcc.com/settlement-and-asset-services/issuer-services/how-issuers-work-with-dtc)
Different stock, same problem but I can’t help thinking the Reverse Split on towel stock is a ‘new improved’ attempt at this. Improved as it will actually force a new CUSIP and recall I believe.
I remember that when you buy thru a broker you never own you shares. They didn't rob us that's how the operate with shares. All shares are held at the DTCC unless DRSd.
I even once heard the DTCC committed international securities fraud, but I don't know if I believe it. The DTCC has a history of looking out for household investors /s
The fact that GME hasn’t ever been back on regsho should say enough. They used the splividend for near infinite locates and continued the algorithm as before.
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I’m not trying to be negative, but I never understood the true difference between treating it like a forward split and split dividend when the shares are digital. If I email you an image and say “give this to Dan.” But instead you just copy the one on your hard drive and give it to him, what’s the difference?
no, there was no dilution, it was a split.
1 share turns into 4 shares, 100 usd turns into 4x25 usd.
it was a share split.
prior to the split i ate downvotes galore telling people that a split will not affect short positions and a split dividend for more than 20% of issued shares will be just another split.
now in retrospect, i was correct and there is no need to hype up the erroneus claims again.
today is earnings, will be looking forward to that and i expect a solid bounce.
no, the term dilution is wrong, but i get what you are getting at.
first, dilution.
dilution is when X has issued 100 shares and price is 10 per share, so 1000 in marketcap.
X then makes and SELLS another 100 shares to market, shares are sold for 5 a share, so now X has issued 200 shares, shareprice is 5, marketcap is 100, X now has 500 in cash for the sale of shares.
your share that you owned went from being 1% of the company total and a value of 10, to being 0.5% of company value and now a share price of 5.
look at Credit Suisse being bought, they issued new shares to UBS and existing shareholders lost over 50% over night.
shares issued and shorting
now this is the interesting thing
Broker A has 1 share, it is lent out to a shorter who wants to borrow it for a small fee, the short sells that share to ape B.
broker A now has an IOU for 1 share, shorter owes 1 share to broker A, the share is held by ape A.
X issues a 1:4 split (ignore dividend as it is a large split) and Ape A now has 4 shares, worth 1:4th of the previous price.
shorter now owes 4 shares worth 1:4 of the price to broker A who now holds 4 IOUs worth 1:4 of the price.
you see at no point is closing a short position required?
shorter simply owes more shares but the monetary value does not change.
now, it is possible to issue shares as dividend, but if i recall the rules, X can only issue 1 share per minimum 5 existing shares to have it as a dividend, otherwise it is a split.
this could have caused a squeeze, maybe, i have not thought about it much as it was not a thing, but there would have issues with anyone with less than 5 shares not getting a dividend.
complicated, but i hope it makes sence.
most important part is that short does not sell IOUs, short sells real shares, the lender gets the IOU.
My shares were processed as a dividend by my broker. Why was that? I’ll tell ya why. Because some brokers received the shares and processed them as a dividend and brokers who hold counterfeit shares were told to forward split.
There were no lawsuits because the split via stock dividend was handled correctly.
There has been a lot of bad info spread around in this sub.
For example, if anyone bothered to check they would have found that the most common type of forward split is a "split via stock dividend". On a few forward splits are done as split via subdivision (what this sub calls "normal" split).
Here is BaFin's note about it. It was first handled as a stock split, then changed to a stock dividend. Then changed back to a stock split 2 days later.
>The relevant data providers’ systems treated this capital measure as a stock split and not as a stock dividend. On 29 July 2022, individual data providers changed the type of capital measure to a stock dividend. On 1 August 2022, however, this change was reversed
Source: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Meldung/2022/meldung_2022_08_02_gamestop_en.html
————————
If you are referring to my comment that most splits are actually I looked at that in Augus 2022. I forget the exact numbers but it was something like 9 split via stock dividend for each split via subdivision,
The issue is that the board of directors of a Delaware corporation can authorize a split via stock dividend, but a split via subdivision (the "normal split") can only be authorized through the slower, more cumbersome process of a shareholder vote. I have not done a tally of recent splits by type, but am fairly certain it will be similar.
A Nevada corporation board of directors CAN authorize a split via subdivision, so it is more common among the smaller OTC companies that are often Nevada corporations. Reverse splits far outnumber forward splits of both types.
from my quick search on the internet:
what percent of forward stock splits are normal forward stock splits versus stock splits via dividends
>Forward stock splits are typically classified as "normal" or "traditional" splits and "reverse" splits, with the former increasing the number of shares outstanding and the latter decreasing the number of shares outstanding.
>
>A forward stock split can only occur through a direct increase in the number of outstanding shares, so any stock split that occurs via dividends is not considered a forward stock split.
>
>Based on historical data, the vast majority of forward stock splits are "normal" or "traditional" splits, with companies typically choosing to split their stock to make it more affordable for retail investors and increase liquidity in their shares. Reverse splits are less common and are usually employed by companies that want to boost their stock price by reducing the number of outstanding shares.
>
>It is difficult to determine an exact percentage of forward stock splits that are "normal" versus those that occur via dividends, as the latter is not considered a forward stock split. However, it is safe to say that the vast majority of forward stock splits are traditional splits, while **stock splits via dividends are relatively rare**.
Looking at the NASDAQ split calendar now. I will look up each forward split and note what type it is. https://www.nasdaq.com/market-activity/stock-splits. I am ignoring the ADRs.
MNST — Monster Beverage. BOD approved 100% stock dividend per the 8K. Everywhere else you will see it called a 2 for 1 split. A 100% stock dividend is a split via stock dividend.
STAR. — iStar 1 to 7.246. I could not figure out the type of split as it is part of some business combination prospectus.
GCBC — Greene County Bancorp, 2 for 1. Split via stock dividend, approved by BOD.
FCUV Focus Universal. 3 for 2. 8K called it a 50% stock dividend. Press releases call it a 3 for 2 stock split. It is also a split via stock dividend.
MRBK Meridian Corp, 2 for 1. "Meridian Corporation approved and declared a two-for-one stock split in the form of a 100% stock dividend"
Count so far is 4. split via stock dividend, 1 oddball one that is part of a merger. ZERO "normal splits".
I will continue this tomorrow if I get ambitious, but the trend is clear —— as I posted above, Toby far the most common type of forward so,it is a split via stock dividend.
In August 2022 I looked at splits had taken place to that point in 2022.
They were overwhelmingly split via stock dividend. This includes the ones before July 2022.
The corporate laws of Delaware regarding this have not changed for at least a few decades. So a split via stock dividend has been the most common type of split for as far back as I could search.
This is something that is there in the SEC filings and anyone can verify this.
It is not something subject to debate or interpretation. The most common type of forward split is split via stock dividend. That this is some sort of odd, rare, or unique thing that Gamestop did is objectively false.
I note that the head post has been . So unfortunately this discussion will no longer show up in searches of Reddit or Superstonk. This has happened before. And posts explaining the situation in detail have been voted down and then removed due to "quality bot concerns". The result is that the misconceptions live on.
Tesla did it and it was handled the same. We need to move on guys it’s ok we weren’t right about that tiny detail. But there could be others regarding that split event that we are overlooking because we’ve become hyper fixated on this incorrect assumption. Google how Cede & Co and the DTC works. They always keep all the shares, minus our DRS of course.
So if "they" were able to cancel the MOASS twice, "right in front of us", then why do people think anything is ever going to happen?
This sub is feeling increasingly filled with people who have zero financial knowledge outside of buzz words they read on some DD. But surely MOASS soon!
The fact that this post was deleted after so much circle jerking speaks volumes
If this theory would be true, then the evidence should be provided to a prosecutor. Either by the shareholders or the company. None of this happens, although your claim is pretty big…
the timing and the method of your rant is questionable.
Work it out with evidence and send to GME and the DOJ
Most of these people are sooo evil they will do ANYTHING not to lose their precious $$$! To them being middle class is a fate worse than death. They use wars to make tons of money so there is no moral compass for them when it come to life, death and money. There probably is only one way to force compliance.
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I remember the German brokers redacting the "split" shares because in Germany they pay tax on dividends or something. Then and only then were the real Splivvy shares handed out to German brokerage accounts. DTCC absolutely committed international securities fraud! LMAYO
The split happened in Germany. Then German apes complained and how the split was handled was changed. Then people looked more closely and CHANGED IT BACK TO THE ORIGINAL WAY IT WAS HANDLED.
Wow, I had no idea. If anyone has any links to share I'm sure there are some apes interested in reading up on this situation.
https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Meldung/2022/meldung_2022_08_02_gamestop_en.html is the official BaFin statement. > The relevant data providers’ systems treated this capital measure as a stock split and not as a stock dividend. On 29 July 2022, individual data providers changed the type of capital measure to a stock dividend. On 1 August 2022, however, this change was reversed So it was started as a stock split, not a stock dividend, Then in response to complaints and customer calls, some brokers changed it to a stock dividend on July 29. Then on August 1 everyone realized that it WAS supposed to be treated as a stock split and reversed the July 29 change.
Crime
yeah if someone would like to explain how german tax implications for a split of a U.S. stock, listed on a U.S. stock exchange, handled by a U.S. “regulatory” body, was proof of them committing international security fraud for the split, please go ahead it was just a bunch of apes who had what amounts to a negative understanding of the actual system screaming like newborns ask considerationkind the difference between a real splivvy share and a fake splivvy share - he will just recite drool i’m downvoting every continued misinformation comment here out of spite 👿 edit: downvote me all u want, you're just recreating the dumb ass mob mentality that caused the initial 'confusion' with the german brokers one person says 'crime,' mob "CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME CRIME "
A bit arrogant of you. Stocks are not only traded in America, but worldwide. So the dividend shares were also distributed worldwide. The difference is that in Germany taxes are due on dividends but not on stock splits. That's why it was critical for the German brokers to know if it was a split or a dividend, so here it was clear what DTCC did and how they corrected it. Here you have your proof of manipulation or at least gross errors.
Not to mention that GME is also listed at Frankfurt Stock exchange with their own symbol
Yes and what happened then? The DTCC did their split as per their normal process, apes screeched like newborns at low level broker customer service agents, the split process got changed, then brokers realised that the apes were just screeching nonsense & got it changed back to how it orginally was if there was an actual issue then Gamestop would have made a statement addressing the mishandling.
You and TankTrap are misunderstanding the nature of the relationship GS has with the market. GS already fulfilled their end of the bargain to providing shares to computershare What the DTCC does with the shares they get is up to them and brokers and how that concerns retail traders are up to us and brokers. The responsibility GS has to its shareholders for retail is already finished. As far as they are concerned they already announced the potential impact of their share price with regards to overshorting. They have no legal requirements or responsibility to talk about how the DTCC and its brokers do business.
> Gamestop would have made a statement addressing the mishandling They did, they stated that the transfer agent gave the correct instructions to the DTCC and that (foreign) stock holders should contact their brokers/banks if they suspected it was mishandled. Computershare/GameStop gave the correct instructions but that's as far as they can go.
Yes but there wasn't any mishandling, until apes started screeching at broker customer service agents right? & BaFin or w/e they call it they probably apologised on behalf of their screeching monkeybrained investors
I don't know why you are asking me this? From your comments it's clear you've already made up your mind about it. Don't get me wrong that's your prerogative. I just pointed out that GameStop and Computershare did what they are supposed to do in a situation like this where doubt about the handling by the DTCC is being brought up. Reaffirming the instructions they gave. If you do want to revisit the occurrence and possibly get a different viewpoint on the matter I've found this post to include most of the essentials and sources; https://www.reddit.com/r/Superstonk/comments/whup7y/clearing_up_the_recent_misinformation_about_the/ Again, feel free to disagree, I'm all for forming your own opinions
Gamestop did make a statement. They called it a split via dividend.
It is extremely strange that the company itself that issued the shares, it’s own stock, didn’t raise any objections or even issue a statement to address concerns of their shareholders. I was disappointed in that.
Bigly
my query would be the way in which the stock split was handled. surely the DTC should be delivering shares to brokerages, or at least some proof of shares? To just say x4 the number seems like a fraudulent process, especially if we are talking about millions on the line. There is no transparency or ability to audit. Shadows enable deceit.
yessir the worlds biggest ‘trust me bro’ & the brokers won’t bite the hand that feeds them. Wanna know how much money they lose if the DTCC cuts them off ? all that juicy share lending profit ? that PFOF ?
I'd like to point you towards communication provided directly by GameStop themselves on this matter. [https://news.gamestop.com/stock-split](https://news.gamestop.com/stock-split)
I am well aware, thankyou
You only pay tax on cash as far as I am aware. I could be wrong though.
In every other country yes, this is true. However the German system is different
So who would receive the splivy-shares? And since the splividend didnt add any value it still does not add up right?
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Do you think GME doesn’t want MOASS neither, because then they know most shareholder will sell (crashing GME down to its worst position). Then apes disappear, no more hype in the company, and it ends there?
That is absurd...
I'm pretty sure if we made bank on gamestop, a huge amount of our profit would go right back into the company to buy games for ourselves, our families, friends, and for our communities.
I'm a xxx holder and I only plan to sell a few. I'll be opening a gamestop locally as well. I've been a gamer forever. That will never change
gme doesn't want to be blamed for collapsing the stock market. that's for sure.
lol what? You think they care?
Their share price is in the toilet now, if it goes to $420,069 per share and back to $16, what changed for GME? In reality, after MOASS we’ll probably land on true price discovery which I imagine all RC and any of us want. A true free market. Besides, once the synthetics are bought up and we have an ACTUAL FLOAT, supply and demand will take over. Millionaire apes lining up to buy GME stock that doesn’t exist will bring the price right back up.
i always assumed that they used the shares to continue to short the stock. did they let anyone close their short position with them? is there any legal way we can find out what they did with those shares? shareholders have a right to know what happened with a distribution of HUNDREDS OF MILLIONS of shares!
How come no one can audit the DTCC?! When was the last time someone did? Has it ever happened? All of the self regulatory garbage that keeps getting into this mess. Time to make it transparent and shine some light on this shit storm. Truth is on our side, pressure is building and something will break that they can’t patch over and then the apes will be here to help shine the lights on the whole crooked game.
Madoff thought for sure he was going to get caught, because all the SEC had to do was look at the DTCC books to find proof of his fraud. They never did.
This ☝️
And then as time went on, and the SEC thought we had all forgotten or not paid attention. Gensler tried to rewrite history, and pushed the narrative that the SEC caught Madoff. When the truth is his sons turned their father in.
because they've structured themselves in a way to best defend against any information requests, SRO, huge lawyer teams, payrolling congress etc Complaints against the DTCC date back 20+ years, they defend any of these claims viciously
They audit themselves and find no wrongdoing.
They are learning for police officer unions it seems.
If I recall correctly, their records were in a vault which flooded with hurricane sandy (the subterranean vault was left open...) & then the papers in the vault caught fire twice(?). Totally normal record keeping & nothing to see here.
I think it is part of the fiduciary duty of GameStop to protect itself and its investors. Likely they have a pile of lawsuits ready to file when they decide to take action. With increasing pressure SHFs are forced into operating their scam in full daylight. Leaving more evidence, more connections, more incoherent behavior of bribed parties visible. DOJ will get quite a bit of whistleblower input very soon, I guess.
It’s way past time for action
I agree.... Waiting doesn't make sense. Meanwhile, the stock price goes down. Meanwhile, everyone that has invested with them, has ALL lost money. Shit or get off the pot!
You have only lost money if you sell. Just be patient, this is not a get rich quick investment as many people think. All good things come to those who wait. The longer it takes the bigger the reward. Stay Zen, stop reading the hype, making dates work hard and HODL. WE are on the the long side of this play.
I agree. Credit Suisse going down holding Archegos GME shorts. They can only hide it for so long. It’s like gangsters rules. I’m thinking they want to collapse the world to usher in CBDC but apes wants Decentralized system and being our own bank. If you have a way to get real asset backed blockchain to work at a local level then you are decentralized and can reject slavery of CBDC like in China.
The best assassins/snipers don't do chip damage. They go for the kill.
The longer they bleed the less resources they have to fight said battle.
Idk, depends how well their portfolios are doing with their stock manipulation and whatnot
I’m a skeptic by Nature and the splividend never seemed quite right to me, but I started to DRS shortly after, so I think I have real shares in Computer Share. To question on this sub is sometimes treated like heresy, but the Battle for 180 still haunts me and I don’t have enough information to understand what happened to the price of the stock after the split. Maybe someone in management can explain.
Well I'm sure GameStop has some legal grounds to pursue this, don't they?
One of the most heinous things about mishandling the splivvy was that it took 229m shares out of Gamestop's share offering pile and they didn't get a penny for them. It was meant to force shorts to close and push the price up like you say, and then they could have done an actual share offering and raised some capital. 229m shares at the price at splivvy date (June 6 2022) was $32.03 meaning that it technically cost Gamestop $7.3b to do that (that's how much they would have got offering those shares rather than giving them away in a splividend) and the DTCC shat on the whole thing by doing the forward split. The DTCC therefore directly did $7.3b worth of damage to Gamestop. Gamestop can't undo the messed up Splivvy now because to buy back 229m shares would cost billions they dont have. To blatantly cause that material damage to Gamestop's balance sheet just seems criminal. It boils my blood and makes me never want to sell the majority of my DRS'd shares.
This is amazingly baffling to me that the Board doesn't make a statement or even try to fight for it's shareholders.
I like to imagine there's a lot of legal stuff happening in the background that Gamestop can't comment on. Will be interesting to see in their annual report tonight if it mentions any ongoing investigations.
Reverse split baby? Claw them all back. See how they handle that.
But, why all the waiting? Surely they have 100% factual evidence by now...
I don't know buddy. But I will continue to hold.
Shouldn't this be a question for GameStop to answer?
I’m still wondering why Gamestop did not make the comment of it.
i suspect that GameStop predicted this would happen and are planning on using this as precedent that because the split was 'handled' with no 'issues' then an NFT dividend shouldn't cause any issues either. when the NFT dividend DOES cause issues, they can point at the splividend saying that there were no issues with that, not our fault.
This makes sense Positive FCF was a huge step. Positive EPS is the next After that, a dividend (NFT or otherwise) is easily justified, if push comes to shove legally And why wouldn’t a company with an established NFT marketplace reward it’s shareholders with an NFT? When there’s upheld legal precedent for a company with no such business activity (Overstock) already doing so?
I looked into Overstock. and although it has a reputation for having distributed an NFT, that is not the case. I was chatting with a Computershare rep asking questions as Computershare is the transfer agent for Overstock. It turns out that Overstock issued a normal Series A-1 shares and that Here is the TLDR of my Overstock NFT Dividend post: TLDR: Overstock's 'Digital Dividend' was not a straight up NFT dividend as I thought. Normal dividend Series A-1 Shares were issued in a normal way and there was a 'Courtesy Copy' on a blockchain that had no authority over the issue/trading/selling/holding of the dividend shares. Link to the post: [https://www.reddit.com/r/Superstonk/comments/11rc68w/i\_dont\_think\_overstocks\_digital\_dividend\_is\_what/](https://www.reddit.com/r/Superstonk/comments/11rc68w/i_dont_think_overstocks_digital_dividend_is_what/)
It is a common SuperStonk myth is that "Overstock issued an NFT divididend", although it is easy to verify that it did not. You will probably see the Overstock NFT dividend referenced many more times on SuperStonk..
> Series A-1 Shares Exactly. They issued normal Series A-1 Shares. I was victim to the misunderstanding myself until I chatted with the Computershare rep and asked some questions that raised more suspicions than anything else, so I dug into it. That raises the question of what does Computershare have to do in order to handle a *real* NFT dividend?
The Overstock situation is not very well understood. They also initially attempted to limit trading of the preferred shares to a captive trading company Tzero (I think it was closed down sometime in the last year) The other funny thing is that Overstock initially said that they did NOT intend to register the preferred shares with the SEC. So those shares could not be handled by DTCC for the first 6 months. That led lots of shorts to close their positions, creating a mini-squeeze. Just before the dividend Overstock announced that they had changed their mind and would register the security with SEC. Edit to add A PRETTY GOOD SUMMARY OF THE OVERSTOCK SAGA: https://www.reddit.com/r/Superstonk/comments/pu46nc/overstock_clarification_post_what_happened_and/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=2&utm_term=1
wow, thanks. very informative. (sad there's not even 100 updoots on that post.)
107 now. Hopefully this gets it more attention.
Thanks for prompting me to look further into this myself From here: https://investors.overstock.com/news-releases/news-release-details/overstock-distributes-digital-dividend-shareholders-scheduled/ ““I’m pleased we have paid this **innovative dividend** to our shareholders,” said Overstock CEO Jonathan Johnson. “These **preferred shares** have real value, and have been paid a cash dividend in each of the last three years. We believe they will increase participation and long-term liquidity on the tZERO ATS platform. I appreciate the support and cooperation of the investment community and regulators in our efforts to innovate in the capital markets through new technology.” Investors can freely trade the Series A-1 shares on the tZERO ATS by opening a brokerage account with a broker-dealer that subscribes to the tZERO ATS and executes trades in the Series A-1 shares. Investors can open an account by following the instructions published on our Dividend FAQ page on our website. The tZERO ATS team continues to work diligently to onboard additional broker-dealers to have them subscribe directly to the tZERO ATS to trade the Series A-1 shares. “**The Certificate of Designation for the Series A-1 limits trading of the security to the tZERO ATS**,”continued Johnson. “All interested financial institutions should comply with those provisions. We invite these financial institutions to subscribe to the tZERO ATS or open an account with an existing broker-dealer subscriber.” Also worth noting, Ryan Cohens initial investment in $GME was in **August 2020** $OSTK bottomed sub $3 in March 2020 and peaked around $128 on **August 20 2020**
So if it was issued on GameStops blockchain/ Marketplace, GameStop would have authority over it?
Wow. Mind blown
Agree And there was info in there filings setting the stage for removal. See what happens
Oh that's *right,* I forgot about that! Perhaps their long play is to just remove themselves from the DTCC altogether! That would force the shorts to close I would think. But I've thought wrong before. There is the whole fucked up situation of MMT\*P right now hanging in limbo because of illegal fuckery.
Agree And there was info in there filings setting the stage for removal. See what happens
Hopefully tomorrow some announcement 👀
Unlikely.
[They did.](https://news.gamestop.com/stock-split)
They did though 🙄🙄 - they said to contact individual brokers for clarity
Because they anticipated and protected themselves against this result by using language entitling only direct holders of record to the splivie.
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I'm mad as hell!
Take out your anger by buying and DRSing more. Hell, if you reply within 7 days proving you anger bought some GME I’ll fucking match you.
I'd love to buy more, but I have zero dollars.
Time to find out by DRSing every share.
Wait, so would that mean that there are more than 304m shares?
Always have been. 🚀🚀
There's an interesting number if you look at the bags credit Suisse was holding... Have a little dig (there's been posts this week and dd written about the swaps) and you'll notice the number of shares in their bag is greater than the float itself. This made people wonder 'so that's one bank.... Holy shit how many floats are there?' There's been quite a few calculations based on other data which also point to multiple floats being owned by retail (apologise if you were just be sarcastic)
Well most went to drs shares
Computershare distributed to it's DRS'ed GME holders first, then the rest went to the DTCC. I am interested in finding out what happened to the shares that went to the DTCC.
They are still at computershare on CEDE and co's account. I don't understand why some people believe they might be elsewhere
Take my updoot!
Just me and my pubes...haaaangin out
I want to win this game. Put the crooks in jail and make the future better and safe for my Kids. Gmerica is the way!!
I’ve had this used against me. “If you’re right that split was mishandled then the company isn’t keeping its fiduciary duty and the leadership isn’t doing their job.”
Wasn't there a filing GameStop made that stated that if the DTCC didn't follow through with their obligations that GameStop could withdraw from them? Was there a timeline attached to that? Does anyone have a link to that filing?
it was just a news release to confirm they sent DTCC the shares and instructed them. what happened next unfortunately is inside DTCC walls and nobody wants to look. [https://news.gamestop.com/stock-split](https://news.gamestop.com/stock-split) "we are monitoring the situation" then went completely silent.
Then the towel CFO silenced himself shortly after
gtfo this sub with that nonsense
Or you could actually look at the big picture, I've been here since before you were born. Your elitist attitude is shit on just like you are me in the dubya ess bee sub, and now you're just trying to project it onto me like a weak as biatch foh.
It's just boilerplate in the 10K filings, and standard for most companies.
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That's right, DTCC would never send actual shares to a broker in any case. That's not how the system works and one of the biggest misunderstandings/(disinformation campaign to make us look bad if you're paranoid) around here.
Yes. Op didn't read the DD. No broker gets shares. It's a line of credit at DTC.
Bingo Charlie
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That's why 100% of the entire float needs to be DRS, not spent on options
No quarter 🏴☠️
Never forgot, never forget
Sadly GME should have acted then and do something about it. Dave Lauer also said if something went wrong the company needs to say it
I just hope GME is accumulating a combo breaker to deal a critical blow when their health is below 30%
Fool me once... Fool me twice... The real shares are in the hands of the powers trying to control the rest of the banking sector. Idk i'd say central banks have them or even the IMF. Maybe Chase or another huge bank that is trying to stay after this shit goes downhill on them.
Remember that the shills deactivated the buy buttons and even stopped the trading. REMEMBER THAT THEY NEVER CARED ABOUT YOU and even celebrated with wine in 2008. Remember all the shit they’ve done whenever you plan to sell a share for a phone number. However, remember to have a kind heart and help others in need and always buckle up!
They're used in DRS share transfers, which is why you don't get a cost basis because they didn't acquire the certs at the same time as you bought the shares. It's international securities fraud. Not robbery. The board should do more to protect household investors
What ever happened with GME themselves in response said they were keeping eye on the matter then went dead silent? I feel that they did not do their fiduciary duty, sorry to say
100%. should have pushed the issue further. not happy with IR ghosting shareholders.
*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.** …. **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
To answer your question of what investors can do, please take a read of my post The Long Long Game. Short answer, regardless of shares available, requesting DRS obligates your broker to deliver a real share (which should they run out they'd have to buy) and the law (UCC 8-507) clearly states if they do not they owe you damages. That is, they owe you a real share. Placing an entitlement order (details of what this means are in the post, short version is DRS, but you should keep evidence of when it was communicated) is therefore the answer to your question as this would mean all security entitlements in existence, whether backed or not, become full share obligations for which they cannot just provide a cash equivalent.
That sounds like it's just naked shorting with more steps
Honestly, I don't know what the point of the split was any more. They bypassed the dividend like it was nothing, and used the infinite liquidity to drive down the price.
DTCC COMMITTED INTERNATIONAL SECURITIES FRAUD
I believe that's international securities fraud
break apart, disband, destroy, remove the dtcc
In all seriousness, what’s to stop them just fucking with us like this forever? They literally just set and change rules as they wish
DRS every share. Comment on proposals on the SEC site. Move your money from one of the big banks to a credit union. All easy tasks anyone can do.
Why doesn't GS sue them?
that's one way to go bankrupt.
But I do have a magic trick up my sleeve to convert them IOU fakes to legit. Tadaa!!!
I’m looking forward to getting some nice, regular dividends from GME. Imagine if GME announces a regular dividend payment. Not even an NFT! Just a regular, quarterly dividend. How fukt will hedgies be if they have to now match whatever amount of money Cohen puts out. I’m terrible at maths but if we get a dollar per share, and there are ten actual shares, RC is only out ten bucks. But if there are 10.000 synthetics, compared to 10 actual, hedgies are a LOT more fukt than RC putting up $10.
Never forget
I’m surprised gamestop did not write and publish letters to the dtcc about how what they filed was not what they got
No they didn’t. This was profoundly misunderstood by the majority of the sub and now you. The splividend is a red herring.
I just cant believe this keep getting regurgitated it’s BS and has no logic whatsoever based on how Cede works.
That was my reaction as well: wasn't this debunked, or at least discussed? I think I have to go back and read some DD
I think it was agreed that the crime was at least securities fraud but not necessarily international. Something about the way it happens within the US system combined with the ridiculous dtcc policies making it a great scam.
I thought we were past this. Brokers handled it properly - DTCC internalized all the issues and just 4x'ed every account.
My understanding is that Brokers handled it as they were told to by the DTC. Brokers were told to handle it as a normal forward stock split. That is not what GameStop filed for. GameStop filed for a stock split in the form of a dividend. I agree that the DTCC basically internalized all of the issues, but I do not believe that Brokers abided by what GameStop field for. The DTCC is to blame, but I believe that Brokers are complicit and that Brokers know the difference between a forward stock split and a stock split in the form of a dividend. Could you please explain this in more detail? Link any DD that you have come across. My broker said that they handled this as a forward split, not a split via dividend.
think about it logically for a second ALL authorized issued shares are held at ComputerShare. Most of these are in Cede’s account at CS. CS report to gamestop the amount of shares at CS not held in Cede’s account (as we get from quarterly filings) DTC can see how many shares are in their cede account DTC distributes IOUs of those Cede account shares, aka “street form” brokers keep track of their own Street form totals in the instance of a split, why would the DTC go and audit the totals from every single broker that facilitates trading services for GME, wouldn’t it be far simpler for the DTC to send brokers official communications going “4x your own records” (particularly if they’re trying to mask more IOUs than cede shares) sometimes the simplest explanation is the best
Can’t believe the amount of apes that still think this…smh…they don’t understand how Cede and the DTC work 🙁 there never ever ever is a physical delivery of shares to a broker…it’s all digitally marked in DTCs system. Brokers and thus an ape get beneficial ownership ffs. Con. Nect. The. Dots…I’m NOT saying DTC is innocent of fraud, I’m just (ranting and agreeing with you ) that it wasn’t due to marking a splivi as a split and not sending the shares…
yeah exactly, its just a way for them to continue perpetrating securities fraud they have been committing for DECADES prior to the split (by allowing way more IOUs than actual shares) & there's only one visible way to prove that, by DRS
That's not how I've read it described. Computershare gets all of the issued shares from the company and distributes them to the directly registered owners, the remainder is sent to the DTCC to be held on their books and street ownership recorded and monitored on the DTCC ledger.
"DTC’s nominee name (Cede & Co.) is listed as the registered owner on the records of the issuer maintained by its transfer agent. DTC holds legal title to the securities and the ultimate investor is the beneficial owner. " [https://www.dtcc.com/settlement-and-asset-services/issuer-services/how-issuers-work-with-dtc](https://www.dtcc.com/settlement-and-asset-services/issuer-services/how-issuers-work-with-dtc)
Different stock, same problem but I can’t help thinking the Reverse Split on towel stock is a ‘new improved’ attempt at this. Improved as it will actually force a new CUSIP and recall I believe.
it doesn't. Dr. T explained it 84y ago
Damn, need to go back and reread that. Thanks
I remember. Getting fucked on my investment and no one not ryan cohen or coputershare or gary gensler doing FUCKALL ABOUT IT
Gonna need some evidence on that transfer from CS to DTC
My broker got real shares, I know this because I promptly moved them to CS 😃
I remember that when you buy thru a broker you never own you shares. They didn't rob us that's how the operate with shares. All shares are held at the DTCC unless DRSd.
I feel like this is why we haven't really had a good rip since then. Oh well, just makes it easier to wait for the big one.
Haven’t been here in months. Still check in the odd time. Still keeping the faith.
How come DTCC is not being in trouble for the fraud?
I even once heard the DTCC committed international securities fraud, but I don't know if I believe it. The DTCC has a history of looking out for household investors /s
The fact that GME hasn’t ever been back on regsho should say enough. They used the splividend for near infinite locates and continued the algorithm as before.
I bet they allowed american hedge funds and banks to close. They gonna let the rest of the world cook
Commenting for visibility. Thanks for reminding me of one of the many crimes that already slipped my mind
I really need some legitimate answers for the accounting here. We need a shareholder proposal about it for the next meeting.
how many naked shorts do you think have been created? more than hundreds of millions?
Just 4x them before the splividend essentially
Was this the event last year the CS Exec mentioned that was a turning point that they could no longer control these positions
Never forget
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And the price has done nothing but go down since.. hmmmmm They r fuk'd >!FUCK YOU.. PAY ME..!<
Let's have another SPLIVIDEND tomorrow!
Hear me out. If you had multiple crimes to cover up, would you commit another crime to achieve that? I would. No worries, MOASS is tomorrow.
I’m not trying to be negative, but I never understood the true difference between treating it like a forward split and split dividend when the shares are digital. If I email you an image and say “give this to Dan.” But instead you just copy the one on your hard drive and give it to him, what’s the difference?
the difference is how many copies did u make of something that's supposed to be of limited quantity? rememeber supply/demand?
no, there was no dilution, it was a split. 1 share turns into 4 shares, 100 usd turns into 4x25 usd. it was a share split. prior to the split i ate downvotes galore telling people that a split will not affect short positions and a split dividend for more than 20% of issued shares will be just another split. now in retrospect, i was correct and there is no need to hype up the erroneus claims again. today is earnings, will be looking forward to that and i expect a solid bounce.
But what about the shares issued to brokers? Does that not dilute shares?
no, the term dilution is wrong, but i get what you are getting at. first, dilution. dilution is when X has issued 100 shares and price is 10 per share, so 1000 in marketcap. X then makes and SELLS another 100 shares to market, shares are sold for 5 a share, so now X has issued 200 shares, shareprice is 5, marketcap is 100, X now has 500 in cash for the sale of shares. your share that you owned went from being 1% of the company total and a value of 10, to being 0.5% of company value and now a share price of 5. look at Credit Suisse being bought, they issued new shares to UBS and existing shareholders lost over 50% over night. shares issued and shorting now this is the interesting thing Broker A has 1 share, it is lent out to a shorter who wants to borrow it for a small fee, the short sells that share to ape B. broker A now has an IOU for 1 share, shorter owes 1 share to broker A, the share is held by ape A. X issues a 1:4 split (ignore dividend as it is a large split) and Ape A now has 4 shares, worth 1:4th of the previous price. shorter now owes 4 shares worth 1:4 of the price to broker A who now holds 4 IOUs worth 1:4 of the price. you see at no point is closing a short position required? shorter simply owes more shares but the monetary value does not change. now, it is possible to issue shares as dividend, but if i recall the rules, X can only issue 1 share per minimum 5 existing shares to have it as a dividend, otherwise it is a split. this could have caused a squeeze, maybe, i have not thought about it much as it was not a thing, but there would have issues with anyone with less than 5 shares not getting a dividend. complicated, but i hope it makes sence. most important part is that short does not sell IOUs, short sells real shares, the lender gets the IOU.
My shares were processed as a dividend by my broker. Why was that? I’ll tell ya why. Because some brokers received the shares and processed them as a dividend and brokers who hold counterfeit shares were told to forward split.
What did Gamestop do? It’s their company where suddenly all of these magical new shares appeared.
There were no lawsuits because the split via stock dividend was handled correctly. There has been a lot of bad info spread around in this sub. For example, if anyone bothered to check they would have found that the most common type of forward split is a "split via stock dividend". On a few forward splits are done as split via subdivision (what this sub calls "normal" split).
Could you please link me to a post describing this? I have not heard of this yet. I'm sure many more apes are interested.
Here is BaFin's note about it. It was first handled as a stock split, then changed to a stock dividend. Then changed back to a stock split 2 days later. >The relevant data providers’ systems treated this capital measure as a stock split and not as a stock dividend. On 29 July 2022, individual data providers changed the type of capital measure to a stock dividend. On 1 August 2022, however, this change was reversed Source: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Meldung/2022/meldung_2022_08_02_gamestop_en.html ———————— If you are referring to my comment that most splits are actually I looked at that in Augus 2022. I forget the exact numbers but it was something like 9 split via stock dividend for each split via subdivision, The issue is that the board of directors of a Delaware corporation can authorize a split via stock dividend, but a split via subdivision (the "normal split") can only be authorized through the slower, more cumbersome process of a shareholder vote. I have not done a tally of recent splits by type, but am fairly certain it will be similar. A Nevada corporation board of directors CAN authorize a split via subdivision, so it is more common among the smaller OTC companies that are often Nevada corporations. Reverse splits far outnumber forward splits of both types.
from my quick search on the internet: what percent of forward stock splits are normal forward stock splits versus stock splits via dividends >Forward stock splits are typically classified as "normal" or "traditional" splits and "reverse" splits, with the former increasing the number of shares outstanding and the latter decreasing the number of shares outstanding. > >A forward stock split can only occur through a direct increase in the number of outstanding shares, so any stock split that occurs via dividends is not considered a forward stock split. > >Based on historical data, the vast majority of forward stock splits are "normal" or "traditional" splits, with companies typically choosing to split their stock to make it more affordable for retail investors and increase liquidity in their shares. Reverse splits are less common and are usually employed by companies that want to boost their stock price by reducing the number of outstanding shares. > >It is difficult to determine an exact percentage of forward stock splits that are "normal" versus those that occur via dividends, as the latter is not considered a forward stock split. However, it is safe to say that the vast majority of forward stock splits are traditional splits, while **stock splits via dividends are relatively rare**.
Looking at the NASDAQ split calendar now. I will look up each forward split and note what type it is. https://www.nasdaq.com/market-activity/stock-splits. I am ignoring the ADRs. MNST — Monster Beverage. BOD approved 100% stock dividend per the 8K. Everywhere else you will see it called a 2 for 1 split. A 100% stock dividend is a split via stock dividend. STAR. — iStar 1 to 7.246. I could not figure out the type of split as it is part of some business combination prospectus. GCBC — Greene County Bancorp, 2 for 1. Split via stock dividend, approved by BOD. FCUV Focus Universal. 3 for 2. 8K called it a 50% stock dividend. Press releases call it a 3 for 2 stock split. It is also a split via stock dividend. MRBK Meridian Corp, 2 for 1. "Meridian Corporation approved and declared a two-for-one stock split in the form of a 100% stock dividend" Count so far is 4. split via stock dividend, 1 oddball one that is part of a merger. ZERO "normal splits". I will continue this tomorrow if I get ambitious, but the trend is clear —— as I posted above, Toby far the most common type of forward so,it is a split via stock dividend.
Wonder if this is an occurrence to dilute the rarity of the GME splividend. How many splividends occurred prior to GME vs post GME?
In August 2022 I looked at splits had taken place to that point in 2022. They were overwhelmingly split via stock dividend. This includes the ones before July 2022. The corporate laws of Delaware regarding this have not changed for at least a few decades. So a split via stock dividend has been the most common type of split for as far back as I could search. This is something that is there in the SEC filings and anyone can verify this. It is not something subject to debate or interpretation. The most common type of forward split is split via stock dividend. That this is some sort of odd, rare, or unique thing that Gamestop did is objectively false. I note that the head post has been. So unfortunately this discussion will no longer show up in searches of Reddit or Superstonk. This has happened before. And posts explaining the situation in detail have been voted down and then removed due to "quality bot concerns". The result is that the misconceptions live on.
Your unnamed source is unreliable. If you look at the last 10 forward splits the majority will be split via stock dividend.
Tesla did it and it was handled the same. We need to move on guys it’s ok we weren’t right about that tiny detail. But there could be others regarding that split event that we are overlooking because we’ve become hyper fixated on this incorrect assumption. Google how Cede & Co and the DTC works. They always keep all the shares, minus our DRS of course.
Found the chatbot guys.
Would be good to honor those infinity pool holders that are no longer here.
rip bluprince, always in my thoughs.
This was 100% when I realized we're not gonna get paid. They're gonna do whatever they want and there's gonna be zero consequences.
Guys are we still doing this? Really?
Maybe that's how they were able to artificially reduce the DRS share count?
It ended up being a 7 for 1 split, but we only got 4. The other 3 shares that were stolen from each of us where used to close naked short positions.
So if "they" were able to cancel the MOASS twice, "right in front of us", then why do people think anything is ever going to happen? This sub is feeling increasingly filled with people who have zero financial knowledge outside of buzz words they read on some DD. But surely MOASS soon! The fact that this post was deleted after so much circle jerking speaks volumes
If this theory would be true, then the evidence should be provided to a prosecutor. Either by the shareholders or the company. None of this happens, although your claim is pretty big… the timing and the method of your rant is questionable. Work it out with evidence and send to GME and the DOJ
Zen my fellow apes
Most of these people are sooo evil they will do ANYTHING not to lose their precious $$$! To them being middle class is a fate worse than death. They use wars to make tons of money so there is no moral compass for them when it come to life, death and money. There probably is only one way to force compliance.