Goofy
Consider this screenshot of a meme from Roaring Kitty. It comes from time 33:25 in the video compilation of his memes [0]. Notice the cartoon character Goofy inserted into the live action film. The detective is deep in thought while staring at Goofy. Then the detective drops his coffee mug –– shattering it on the floor.
This is a reference to a moderator of r/walltreetbets. He posted a photo from a Christmas party at Walt Disney World exclusively for Citadel employees. The implication being that this moderator is a Citadel employee at the party [1] [2].
r/superstonk reposts the photo, and riot of posts ensues. Mods must have been out for Christmas. Maybe also at the Citadel party? And then the next day, every post and every comment on this topic is deleted. “This content is not appropriate.” I confirmed on reveddit at the time.
Later the moderator at the Citadel party claimed that he was not a Citadel employee –– but rather a Walt Disney World employee playing Goofy at the party.
[
Footprints in the Sand
“Roaring Kitty, once I decided to follow you, you promised to walk with me all the way. But during the most troublesome times, there is only one set of footprints. When I needed you most, why did you leave me?”
“My precious child, during your times of trial and suffering, when you see only one set of footprints, it was then that I carried you.”
(original content)
@TheRoaringKitty Tweet About Slicing Pizza
In this tweet from @TheRoaringKitty [0], a pizza is repeatedly sliced into thinner and thinner slices. This is a reference to the reply from New York Federal Reserve to the Clearing and Legal Certainty Group from the European Commission [1].
When you buy stock, you don't actually get stock –– just a security entitlement. This is a pro-rata share of the stock held by the intermediary. When other shareholders DRS, then their security entitlements at the intermediary become real stock at the transfer agent.
So the intermediary is left with less and less stock, and your pro rata share gets smaller and smaller. Like the thinner and thinner slices of pizza.
[0] https://twitter.com/TheRoaringKitty/status/1790770363627921776 [1] https://archive.org/details/ec-clearing-questionnaire
Thank you for calculating this, @Zuberi.
Tennessee House Bill 2806 / Senate Bill 2640
Tennessee House Bill 2806 / Senate Bill 2640 amends the Uniform Commercial Code to:
- Move the jurisdiction for security entitlements to Tennessee
- Give entitlement holders priority over secured creditors of intermediaries
The civil justice subcommittee hearing features testimony from:
- David Webb –– author of The Great Taking
- Don Grande –– private practice attorney
- Andy Guggenheim –– Securities Industry and Financial Markets Association
- Tim Amos –– uniform law commissioner
Andy Guggenheim: "While holding securities in street name is the most common choice for investors, they do have alternatives for holding securities in other ways if they prefer including physical form via stock certificate when that is available by the issuing company." (He won't say the word DRS!)
David Webb: "DTCC itself is planning to start up and pre-fund a new central clearing counterparty when one of the existing ones fails. The industry is talking about the very real
r/superstonk's loss is Lemmy's gain!
GameStop published their latest form 10-K on March 26, 2024. While the filing date was on March 26, the document date is February 3, 2024. In this article we dive deeper into the filing and highlig…
GameStop’s earnings report: 15 things you might have missed
GameStop published their latest form 10-K on March 26, 2024. While the filing date was on March 26, the document date is February 3, 2024. In this article we dive deeper into the filing and highlight some interesting bits you might have missed.
You can find the form or read along with us right here!
Our merchandise? Collectibles, which included digital asset wallet and NFT marketplace activities
On page 2 of the filing GameStop mentions their merchandise, which includes hardware, accessories, software, and collectibles. Under collectibles they mention their collectibles also included the digital asset wallet and the NFT marketplace activities. “However, both activities were wound down in the fourth quarter of 2023.”
GameStop refurbishes products and recycles and achieved a reduction in YoY carbon emissions in excess of 10%
Also on page 2 there is mention of sustainability. “In 2023 alone, through our U.S. refurbishment c
I would only have noticed one of the two hidden names if not for the animation!
I love the Pac-Man meme!
Order Granting Approval of a Proposed Rule Change Concerning Requests for Withdrawal of Certificates by Issuers (2003)
This rule change (approved by the SEC) prevents issuers (such as GameStop) from withdrawing their shares from the DTC.
Recently a number of issuers of securities have independently requested that DTC withdraw from the depository all securities issued by them.
As explained in further detail by many of the commenters opposing DTC's proposal, the issuers making these requests have alleged that their securities have been the target of manipulative short sellers.
DTC's proposed rule change provides that upon receipt of a withdrawal request from an issuer, DTC will take the following actions:
(1) DTC will issue an Important Notice notifying its participants of the receipt of the withdrawal request from the issuer and reminding participants that they can utilize DTC's withdrawal procedures if they wish to withdraw their securities from DTC; and
(2) DTC will process withdrawal requests submitted by participants in the ordinary course of business but will not effectuate withdra
"GameStop's DRS Reporting History" from DRSGME shows the change in the DRS Reporting Language over time.
Since you're making so much money on AI stocks, you don't need to waste your time posting about GameStop. Just hire someone else to tell us to sell.
Wired / Tired / Expired
Tired / Wired is a phrasal template used to express the fading cultural significance of one subject in regards to a newer one (similar to Shot, Chaser).
- Wired: Ryan Cohen is dying.
- Tired: GameStop is dying.
- Expired: Bitcoin is dying.
Explanation of the Wired / Tired / Expired meme from Know Your Meme.
Good meme.
It certainly seems like the moderators are trying to influence discussions of the difference between DRS and Plan.
Risky Bets (2022)
Watch Gaming Wall St 2022 full HD online, download Gaming Wall St Full HD Free on HDToday
"Risky Bets" is Episode 1 of the documentary mini-series Gaming Wall Street. This post bypasses the HBO Max paywall.
"In 2021, an all-out war around GameStop breaks out when a group of internet investors band together to skyrocket the stock price of the flailing video game company –– upending Wall Street in the process."
For a dramatization of the Panama Papers, watch the comedy-drama film The Laundromat streaming on Netflix.
Federation can be another mitigation against denial of service attacks. When our Lemmy server went down, I was still able to read our history of posts and comments via a federated server.
I don’t think a NFT dividend would work. It was tried once when Overstock was shorted and it flopped.
Overstock's digital dividend story: "Overstock announced a plan to issue a digital dividend in Sept. ’19. After a legal fight with short sellers, the issuance took place on May 19th, ’20. Overstock share price began to climb prior to issuance and then sky-rocketed just after, gaining near 25x within 6 months."
How about exchanging links with a GameStop-related community on a different Lemmy server? (Even if there is no other community specifically focused on DRS.) This could be a kind of social federation between related communities –– in addition to the baseline technological federation built into Lemmy.
That's a good take. After just 2 - 3 years, people ask "Wen moon?" Compare to other corporate turnarounds or short seller conflicts.
Gamestop's data reporting 'idiosyncrasies' warrant a closer look (2021)
Another GameStop glitch by Fidelity is less an "error" than than it is part of pattern of GameStop data discrepancy and idiosyncrasies.
Gamestop’s data reporting ‘idiosyncrasies’ warrant a closer look
BY JACK TAZMAN
DECEMBER 2, 2021
Data anomalies flagged by GameStop investors have required corrective action representing over 350 million GameStop shares.
Say what you want about GameStop’s loyal individual investor base, they are definitely keeping a close eye on things.
Every SEC filing, every court case, every job board, every news release, every GitHub update – any bit of information that has to do with their favorite stock is quickly detected and discussed by the colossal following in various GameStop-oriented subreddits.
They aren’t the only ones tirelessly checking the forums for new information. Topics that gain traction in the individual investor community often find their way into headlines of mainstream media sites including Motley Fool, MarketWatch, Investor’s Place, CNBC, and others.
How strange then that the very community these publications depict as reckless, mindless hype followers is one that
How big will GameStop's MOASS be? Let's do the math! Let's go GME! (2022)
Sometimes, not always, they are a zero-sum game: one person’s win is another person’s defeat.
Thanks for your comment –– you make some good points. While I agree that this conflict will have a winner and a loser, considering all of the stakeholders, I disagree that it is a zero-sum game. If the bears win, then a $5 billion company goes out of business, and 25,000 employees lose their jobs (negative sum). If the bulls win, then GameStop continues to provide value to customers –– and potentially enters into emerging markets like NFTs (positive sum).
How quickly did you expect Ryan Cohen to turn GameStop around? The conflict against short sellers of Herbalife took five years ("Bill Ackman Surrenders in His Five-Year War Against Herbalife").
The check and balance on abuse of moderation is the right to migrate to a different community –– "voting with your feet." Consider the meme "Apes during the last Great Ape Migration to Superstonk" (and many other memes). r/superstonk has infringed on this right by censoring references to Lemmy. DRSGME / WhyDRS has strengthened this right by using open source software, federating with other servers, and providing backups to certain users. Another way to strengthen the right to migration is to link to a related but credibly independent community. Some subreddits link to related subreddits in the sidebar. Judging from this comment by @jersan, theppshow community may or may not be sufficiently similar or sufficiently active. Can you think of a related community independent of the DRS Team? On Lemmy, Reddit, Twitter, or any platform.
I noticed in hindsight that this post is a repost. Credit to @Zuberi for posting "Jon Stewart, Gary Gensler spar over SEC oversight: ‘It’s not a level playing field,’ Gensler says" about a month ago. I didn't find the original post when searching because it used a different title.
Bill Ackman Surrenders in His Five-Year War Against Herbalife (2018)
The activist investor is ending his crusade against Herbalife Ltd., in what amounts to a bruising defeat in one of Wall Street’s longest-running, most expensive and nastiest fights.
I came across the article "Bill Ackman Surrenders in His Five-Year War Against Herbalife" in the Wall Street Journal. The hedge fund Pershing Square Capital Management led by Bill Ackman short sold the multi-level marketing and dietary supplement corporation Herbalife.
Bill Ackman argued that Herbalife was a pyramid scheme, and its stock price would go to zero. Activist investor Carl Icahn of Icahn Enterprises invested in Herbalife –– becoming its biggest shareholder. Short seller versus activist investor. A live television shouting match between Ackman and Icahn.
Compare to the GameStop short squeeze. GameStop CEO Ryan Cohen has even been connected with Carl Icahn ("Ryan Cohen and Carl Icahn Meetup Energizes GameStop Bulls Amid Yet Another Bear Market Rally").
Ne
As the Energy (named by @jersan) has migrated between social media platforms, various moderators have tried to control and censor it. How can we prevent this? Open source software relies on The Tentacles of Evil test. This says that even if the developer turns evil or gets bought out, then their software must still remain open source.
Imagine a future whether the moderation of this community turns evil. Let's preemptively break our own containment by linking in the sidebar to related communities controlled by independent parties (such as [email protected] as @SubDRSive mentioned). If the links are removed, then they are the canaries in the coal mine, showing that this community is compromised. If the links remain, then the Energy can move freely.
Can We Fix the Stock Market? Jon Stewart Interviews SEC Chairman Gary Gensler (2022)
Related Videos:
An update on direct share registration (2022)
In particular, listen to the section "Direct shareholdings vs. direct stock purchase plans" at 6:59. For related videos, please see "Paul Conn - AMAs, Appearances, and Transcripts" posted by @Chives four months ago.
Are Crypto Games Making a Comeback?
This episode of the Bankless podcast about crypto games reminded me of the GameStop NFT Beta because it shows the potential for gaming to go beyond brick and mortar. See also the post "Protocol: Gemini - BLACKPAPER 2.0" by @jersan about crypto gaming in augmented reality. And the article "Overstock Short Sellers Fall Short as Judge Gives Digital Dividend Claims Short Shrift" about how Bed Bath & Beyond (then Overstock) used a crypto dividend to mitigate short selling.
- 00:00:00 Intro
- 00:04:45 Intro To Crypto Gaming
- 00:11:26 How Has Crypto Gaming Evolved?
- 00:15:05 Casual Vs AAA Games
- 00:18:37 The Current Gaming Experience
- 00:23:26 What Benefits Come From Blockchain?
- 00:30:13 Best Argument Against C
GameStop Q3 Numbers Are In: Let's Talk About the Stonk
Open Access, Interoperability, and DTCC’s Unexpected Path to Monopoly (2022)
This Article argues that open-access and interoperability requirements helped the Depository Trust & Clearing Corporation monopolize U.S. securities clearing and depository markets. DTCC’s path to monopoly offers a cautionary tale for policymakers seeking to use open access and interoperability ...
"Subsection II.B. The Paperwork Crisis and the Birth of the NSCC and DTC" (pages 127 - 131) relates to "Taking Stock, Episode 14: The Birth of the DTC".
"When we think of securities markets, we imagine crowded trading floors, electronic trading screens, brash cable-news hosts, and titans of industry ringing the opening bell at the New York Stock Exchange (NYSE). But the institutions that really move money on Wall Street reside around the corner –– quite literally –– at 55 Water Street. This is the home of DTCC and its twin subsidiaries, NSCC and DTC. Today, NSCC is America's only securities clearinghouse, and DTC its only securities depository." (pages 122 - 123)
"NSCC guarantees that funds will be delivered to the seller and that purchased securities will be delivered to the buyer. If a counterparty defaults, NSCC will first use the collateral that the defaulting party posted as margin against its outstanding obligations. If those funds pro
Correlation between stocks and tokenized stocks (2021)
Please see the attached image.
"Only two out of twenty tokens have correlations beneath this threshold, namely McDonald's Corporation and Gamestop Corporation with respective correlation coefficients of 0,79 and 0,93."
Buyse, J. (2021). Impact assessment of digital assets on securities markets [Universiteit Gent]. https://libstore.ugent.be/fulltxt/RUG01/003/010/051/RUG01-003010051_2021_0001_AC.pdf
Editing 'Cede and Company' on Wikipedia
I am continuing with the project to edit Wikipedia articles about GameStop and DRS. I expect that this will take both vigilance and good citations. For example, in the article Cede and Company, I wrote, "Appropriately, the word 'cede' means to 'give up (power or territory)' because investors give up their stock and companies give up their shareholders to an intermediary." I cited "Rise and effects of the indirect holding system system: How corporate America ceded its shareholders to intermediaries".
How you can help:
- Post ideas of articles to edit
- Post citations to reliable sources
- Watch articles for deletion of key facts!
Challenge: Get the word 'DRS' to stay in the article [GameStop short squeeze](https://en.wikipedia.org/wiki/GameStop_
Dr. Susanne Trimbath on Gary Gensler
Block Transfer
What if you didn’t have to wait days for trades to clear, pay exorbitant hidden fees to your broker, or worry about holding counterfeit stock? Capital markets work, but they’re incredibly inefficient. A few powerful institutions:
- control stock lending and margin, generating fake shares en mass;
- systematically disenfranchise global investors from buying stocks; and
- through manipulative systems, ultimately cost investors over $3.75T / year.
Transfer agents can uproot industry behemoths by undermining their grasp on capital markets. In particular, all brokers are commingled as but a single investor on the books of public companies. Public firms hire a “transfer agent” to maintain these investor records.
The stock transfer agent industry has consolidated to four major providers over the past few decades. Service amongst them has dwindled while prices skyrocket. Issuers are not satisfied.
Old transfer agents force book-entry stockholders to print complex paperwork, travel to an ap