Some Thoughts on the DRS Slowdown

  1. I'm an Europoor XXX hodler. I have one share DRSed so far. My second CS Letter arrives in two weeks - that's when I start the process of DRSing at least 69% of my shares (100% after I verify how flexible I can buy and sell with CS). I was not early nor was I late among Europoors when we started DRSing, so you can expect a huge wave of DRS posts incoming in the coming weeks.

  2. I gotta hand it to all of the non-US hodlers. You've had to crawl through the mud to get your shares registered and in some cases, pay high fees and wait weeks just to transfer. Kudos to all of you. Your dedication is very much appreciated.

  3. I'm a Korean Ant, just lurking around. I unfortunately don't see a feasible way to DRS without paying exorbitant fees to do so(more so than my current value of GME shares). I would really like to DRS if I could, but I haven't seen an easy way to do so.

  4. Although I’m a DRS snob I generally don’t talk about. That being said you can count me in.

  5. That's also a possibility but I thought I read a post somewhere that someone recently talked to fidelity about DRS and they said requests slowed way down. Hoping it's just the holiday season/gamma ramp fomo.

  6. DRS is taking a buttload longer than usual. Did mine late September. Got my first letter a few weeks after. Still waiting for the second. Probably a lot of drs info stuck in post.

  7. I called to DRS some shares from Fidelity the day after this. I was on hold for 45 minutes. I am never on hold this long. I asked the rep if they have had a lot of DRS requests that day. He said yes, but refused to tell me the reason. I know the reason. People are mad at Fidelity.

  8. Find the estimate for how much are stuck in retirement accounts and you will find the catalyst. Any financial institution wanna be holding Trillions in assets should offer IRA Custodial services ASAP. Any apes that work in financial sector need to go push some motherfucking buttons! Or firm your own bank or buy a credit union with IRA services. This is a freaking no brained! 75 to 90% of it are stuck in Retirement accounts. You can rollover once a year so if a smart apes knows how 2022 can see rollover DRS to whichever financial institution want to be ApesCustodialBank!

  9. You’re also totally missing the count of apes that have shares in retirement accounts that can’t easily DRS. CS does not hold retirement accounts for GME. You have to go through a convoluted process that may make your entire account taxable at income with a 10% penalty.

  10. I think the sub-count is sus but that's life. I think it's possible Reddit does own close to a float by itself if there are at least 175k inactive users who hold share distributions equal to the same population or if scenario 1 or 3 are true. Even if Reddit only holds 31 million shares by itself there's almost certainly a float held by the rest of non-reddit retail which is enough.

  11. Another scenario: lots of ADHD types who see DRS, upvote, make a mental note to do it later, then forget to as work / school / etc take over their day. Rinse, repeat the next day.

  12. I'm an xxx holder that has concerns about liquidity with DRS (transaction fees) and am holding in my Schwab account. I know the reasons for DRS but also have seen heavily shorted stocks soar without it. For me its riskier to DRS than it is to just be patient, especially with the moves RC and co are making. I assume a lot of people feel like this. Change my mind. Idk how to prove it but not a shill. I just think replies to this comment can convince myself and people like me.

  13. It's not like there's a hard deadline to get the float DRS'd, it was going to take a year to get 62M under the best circumstances. You have time to evaluate what's best for you. RC has options to initiate a squeeze if he wants to once nft is ready.

  14. So far I have DRS’d a handfuls of shares. I am starting small and taking the cautious approach until I find out more about Computershare. I am sure many others feel the same. So far the more I have learned about Computershare, the more comfortable I feel. I still have some more questions that I want answers to before I commit to DRS more shares.

  15. Unless you are a XXXXX or above holder or have a new CS account high score you're already included in the numbers in

  16. I got my computershare letter today after waiting 7 weeks :). This time I will call them and make them send the login code by express mail so I won't have to wait 7 more weeks. Hopefully I can overcome my anxiety.

  17. I dont think americans fully appreciate just how big of a hassle DRSing from Europe is. First of all the most common brokers in the Nordics flat out refuse this (Nordnet, Avanza, etc). So, we have to make an IBKR account, fund it, transfer assets over, then open the DRS request.

  18. It's a hassle to even get started. I have XXX shares at Avanza and would need to sell, transfer cash, and buy back if I want to DRS those shares. I am not selling them, especially right now with the rapid price jumps. I would also need an active computershare account before I could do the transfer. My best bet is to activate an account through giveashare, but the cost has been too steep for me the past months.

  19. With my Canadian bank they're asking for 300+$ to DRS my shares. I just can't afford that right now, that's my issue.

  20. Lurker. I've been on Reddit for about 13 years, just made an account. Been diamond hand since March, DRS first share in August, have since DRS all xx shares from InFidelity. I know Apes who lurk and others that don't Reddit. We are here and DRSing 😁

  21. Remember a large percentage of people also have multiple CS accounts. This seems to get glossed over frequently. I have 3 accounts for just GME. My guess is the average is around 2 meaning the actual number of accounts is about 50% less

  22. There are also people who haven't fed the bot. I have 3 accounts, registered over 45%, but didn't post my letter on here. Lots more like me.

  23. Even still shares per account should hold up for share averages for calculations. It's wild to think though that only 100k retail holder could lock up non-institutional free float.

  24. Scenario 4: everybody outside of the US DRS'ed a small portion of their shares just to be able to make an account at Computershare. They're not waiting for the extremely slow (lost and resent) letters to come in.

  25. The reality is that retail doesn’t own as much of the float as they think they do, and the majority of those super invested in GME have already DRS’d.

  26. I disagree. An example: Nordnet and Avanza are two brokers both operating in Sweden, Denmark and Finland. They EACH list that they currently have around 20000 individuals owning GME shares in their books. That’s just two small brokers, in countries with a combined population of 20M. In these countries, people mostly hold shares through their bank, not through these online brokers.

  27. i've been waiting for my letter to arrive. i drs'd my first 15 shares almost 6 weeks ago. it's just a very slow process for international apes.

  28. There is many people who lives in europe and its not that easy for europoors, some of them is holding without drs and lots of lots of people holding shares who don't use reddit (my friend told me just got couple in case scenario, but not interested in following drama)

  29. Question apes !!! So I transferred my shares to CS and for shits and ape noises I bout one share on CS account. The issue- so my banks show GameStop Corp took the 210 but my CS account shows nothing not a pending transaction or nothing. Should I just calm down or what. It’s been 3 days

  30. I've been trying to Dr's for like 4 months and cs just got my account fixed last week, still don't have my account number and all that jazz yet

  31. There was someone on Superstonk who was trying to get the stock ledger to find out the number that has DRS’d. What ever happened with that?

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