#gamestonk

Money Is Fake and GameStop Is King: What Happened When Reddit and a Meme Stock Tanked Hedge Funds

Money Is Fake and GameStop Is King: What Happened When Reddit and a Meme Stock Tanked Hedge Funds

If you aren’t up to date on what’s going on with GameStop or why people are still invested, watch this short video:

What’s happening now: The Splividend

Recently, GameStop issued a dividend in the form of shares of their stock. This is different from a normal stock split (where the stock you hold would simply be split), because in this case GameStop issued a set number of shares to be distributed by brokers to shareholders. In this case, they issued three shares for every share that had been issued. Thus if you had 5 shares, you would receive 15, for a total of 20.

Because of the shenanigans with GameStop stock and synthetic shares, the number of shares issued by GameStop will not cover all of the synthetic shares in existence. This could, in theory, force out into the open the fraud we’ve been calling out since January of 2021 (or earlier).

Already, some shareholders in Germany and elsewhere have found their brokers were unable to issue them the shares they were promised - and the DTCC here in America, which controls the flow of shares in the market, has instructed brokers to treat the dividend as a regular stock split. Which is in complete opposition to what GameStop said when they issued the shares to be distributed.

Here is GameStop’s statement on the issue.

If you have shares that are in a traditional broker, now is the time* to direct register them in your name and make sure you’re getting the shares you were promised.

If you don’t have GameStop shares yet, now is a great time* to buy shares through ComputerShare, the transfer agent for GameStop who handles direct registered shares on their behalf. No need to deal with corrupt brokers and their shenanigans!

For help on both of those, visit:

Decentralization in our financial markets is possible, and it starts with actually owning your shares in your own name (spoiler: if you use a broker, you don’t own your shares)

Learn more about how to direct register, especially for a stock like GME with so much manipulation.

Edit:

Adding this video to make a GME master post:

Ever wonder what happened with that whole GameStop thing?