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![]() | Prepare your tits. submitted by catsinbranches to Superstonk [link] [comments] Exhibit 1On Feb 23, 2022, ComputerShare posted this video: https://youtu.be/ZdZXCJxs5fs with the part I’m referring to beginning at 2:32 but read on to get right to the juicy bits.Here are the screenshots of the important parts for this post: ComputerShare administers over 12 million dematerialized or uncertificated holdings of which, approximately 8 million are pure DRS holdings and 4 million are \"book entry\" plan relate In this video, they say that they manage over 12M dematerialized or uncertificated shares (note that this total is not specific to GME only) of which approximately 8M are pure DRS (Book shares) and 4M are book-entry plan related (Plan shares). NOTE: These descriptions have been updated to more accurately reflect the meanings of these terms.
Something I want to note before we continue… this video was posted on Feb 23rd, but it likely took at least a month to make. I’ve been involved in the creation of YouTube videos for large corporations and there are a lot of steps, a lot of hoops to jump through, and a lot of approvals to get for each tiny thing. Someone has to write the script, get it proofed, approved, someone has to record the voiceover, that needs to be approved, edited, approved again, there are also all the graphics that need to be prepared and approved piece-meal as well as together in animation, the audio and visual components need to be put together… my point is it takes a long time, and I would expect that the numbers that ComputerShare presented were likely from around end of year 2021 rather than mid-Feb numbers. Exhibit 2In mid-March, GameStop released their annual report (pre-split) which noted:As of January 29, 2022, 8.9 million shares of our Class A common stock were directly registered with our transfer agent, ComputerShare. Putting that togetherSo there are a couple of possibilities here based on what ComputerShare says in their video…Option 1: about 1/3 of DRSed shares held by ComputerShare are for other companies, which strikes me as unlikely considering how quickly GME took top spot on give-a-share, how confused brokers were at the beginning, and how many people have been told by brokers that people asking for DRS are always asking for GME. Option 2: More likely (in my opinion) is that GME makes up most of the DRS shares that ComputerShare talked about. This was likely year-end 2021 data, so would have been before popcorn and towel stocks started to get on the DRS bandwagon. But… this one only makes sense if the numbers reported in GME’s 10-K are ONLY reporting book entry DRS shares. So if I'm correct that GME makes up the majority of these holdings at ComputerShare, and the % of shares purchased directly from ComputerShare hasn’t changed (those recurring direct purchases go into plan rather than book), then based on the video ComputerShare posted back in February we may actually have closer to 107M shares locked up (since 8 x 1.5 = 12… so 71.8 x 1.5 = 107.7). Maybe I’m overly optimistic, but I would guess that the percent of shares held in plan currently would be more than it was when we kicked off 2022, because I get the impression based on posts here on Reddit that more people have recurring purchases set up than they did in 2021. So... we might actually be a good amount over 107M. TL;DRSComputerShare released some numbers at the beginning of the year that, when compared to the numbers that GameStop released in their annual report, suggest that shares held at ComputerShare in “Plan” are not part of the total that GameStop has been reporting. So we actually probably already own way more of the float than we ever realized.I wonder what would happen if everyone converted those Plan shares to Book…? 🤔 Edit: updated the descriptors to more accurately reflect the meaning of those terms |
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