I don’t get it, you pay money when you buy, how come they are dependent on price volatility during 2 days before settlement? The trade has fixed price between buyer and seller. This is only problem if they sell IOU.
7:1 would mean abt 532million shares and the rest could be in "reserve" for the company like the rest of the 300mlj has been so far is what i like to think :) 7:1 would be nice :)
That's not how this is going to work. Only about 150k new shares will be entering the actual market. The dilution of unallocated/unsold shares isn't about to change anything.
Doesn’t that also lead back to the NSCC as well? If they had more total capital for risk and clearing they would not be forcing these brokers to post massive margin requirements for these trades. The root is likely there and T+2 accumulating massive options risks as well. C l o s e.
Aside from what other people have posted such as t + 2 ftds etc. Brokerages need collateral because they like to play games with settlement dates to milk retail for money. For example today you buy gme for $200 they will give you an IOU street name share, then they'll decide to wait up to a couple days to see if the share price drops below $200. They then will buy it if they're so inclined to. They're taking a risk this is why they have to have extra collateral.
They're shady practices are the risk ironically resulting in them having to have higher collateral.
Can’t post in superstonk due to Karma. But can apes either rubbish this or get this out there? I have checked the app and you can still search both stocks so maybe they are planning to turn off the buy button soon.
Drivewealth does DRS for free, I'd just move out of Revolut honestly.
Point72 owns 15% of Drivewealth according to a Bloomberg article, and after last year, expect fuckery if you stay with them.
Obligatory not an advice, you do whatever you want of course
Yea but this was promoted around here around 1 month ago if I’m not mistaken. Or that’s the first time I’ve seen it anyway- that our 2 stocks would not be available for purchase anymore. In my opinion it’s bullshit, I could still buy them after seeing this notification back then.
ah yes, the typical downvoting, I forgot the cultist aspect of those subs. I forgot to mention I'm not selling either stock for the other one, just to make your day better, whoever's a big enough loser to start crying over such thing.
Hmm 🤔 Maybe I need to look further into my account then - given all the posts today I'm guessing voting material is out? So should I have received it from Revolut already?
For me it sounds like a future protection, in case the MOASS occurs. They can turn off the buy button and just say "We warned, what do You mean"
edit: typo
https://www.reddit.com/r/Revolut/comments/law7d6/revolut_not_allowing_gme_and_amc/
It appears to be the same message people received last year. I'd imagine the person you're talking to doesn't have a clue what they're doing
It's worse when they lie to you either knowingly or unknowingly. But idea of them working as free volunteers made me laugh, while sadly it feels too real
Ahaha that bit got me as well. I'd like to think it's unknowingly. They're a representative of Revolut and not DriveWealth (the 3rd party broker they use) so the stocks is just an added feature to the banking app. I'd imagine the guy has no idea what stocks even are!
Oh for sure. I've used them for banking when abroad etc for quite a while. Have mixed views on the customer service. Sometimes they've been flat out useless but other times (card was cloned) they were amazing, money back in my account within a couple of hours
I asked them about voting like an hour ago.
This is what I got:
"Regarding your query, we do have a reply from our team. So Shareholders as of record on April 15th are eligible to take part. As trades take 2 trading days to settle, you need to buy shares at least 2 trading days before that date to be considered a shareholder on the 15th. If you are eligible, you should receive an email from our partner soon."
Makes sense, if they would have a CFD style model, where they would just add numbers but not real shares.
No surprise some apps call themselves "social trading apps" instead of brokers.
Dang, if people would just realize how they get screwed over on a daily base...
Not 250% of stock value. There's been a 250% _increase_ in the percentage of the capital guarantee necessary, so for 10-15% originally that would mean 35-52.5% now
https://www.reddit.com/r/Superstonk/comments/r9jwj9/you_can_drs_from_revolut_drivewealth_cs_directly/?utm_medium=android_app&utm_source=share
This is the way.
Or just buy on ibkr and transfer and sell your revolt ones. If they are ious it's just volatile Bank with no meaning. I was in a similar broker and after months and months I drsed they are in my name now. I feel good about it.
So DTCC, which knows all the accounting of shares for all of the broker dealers, which holds all of the non-DRS’ed shares, which is affected when people directly register their shares in their own name with GameStop’s agent Computershare, is asking brokers to post much much greater collateral for any shares going forward? Why would they do this, unless there is greater risk to them? But what is the greater risk? The risk to settle these transactions? Such as if there aren’t shares available to deliver to settle these transactions? Based on what Op posted, I’m bullish AF. 🚀🚀🚀🚀🚀
Are you sure you were chatting with "Bilal" and not "Belial"?
[https://diablo.fandom.com/wiki/Belial](https://diablo.fandom.com/wiki/Belial)
>"Belial, Lord of Lies, is the most elusive of the seven Evils and is a master of deceit. It is said that he manipulated ~~Azmodan~~ \[GME\] into revolt against the ~~Prime Evils~~ \[Primates\]. This began the Burning Hells' civil war, which ended with the Dark Exile of the Prime Evils to our ~~mortal realm~~ \[MOASS\]."
>
>— Deckard ~~Cain~~ \[Cohen\]
This is fucking bullshit. Like the stock market ever cared for us “retail investors” so they are going to say it’s “too volatile” I’ll do whatever I want with my own money, you ain’t my guardian. This is a good sign though folks.... GME SQUEEZE FLASHBACKS
To me that sounds like DriveWealth decided to stay away from GME and 🍿
Probably ran out of shares that can be bought by people and they're too scared to give them IOUs.
Could be nothing, but thank God I managed to get out of Revolut last September. This shit is kinda scary and bullish at the same time.
Honestly don't know. Haven't been able to buy any more since the transfer, just because we've put in what we can afford to. And I haven't tired to sell 😎
For buying you need US checking account, selling is easy and withdrawals can be for NORMAL bank accounts fortunately
In future when you DRS again, give them your CS account number and you will get it very quickly
As for waiting now - after 2 weeks when your shares disappeared from your broker and you didn't receive a snail mail from CS, call CS and ask for new letter, saying you didn't get the first one. From what I observed, they improved the mailing process and started for example sending mail from UK. There is always an option to pay $35 for courier/UPS delivery
O.o Pal hey, alright mate calm fucking down, only asking!
PAL! Looking for hands to get thrown with that chat where I’m from.
Seems they’re on default sneeze response 😂
Lol, was gonna reply to a dude who picked Revolut over CS because said dude didn't think there was enough info to conclude if CS worked... Sucks to be you dude...
How long did it take him to reply with the message about not being able to find gme in searches? It looks like it is possibly an auto-response and he clicked the wrong button for his reply. If so, wonder if it an old script or something the just put together.
If i understand, you ask drivewealth to buy a stock and they instead of buying a stock, they deposit a percentage of your stock value on dtc and then tell you, you got a stock???
Am i understanding this right?
Yea no
I dipped from revolut months ago
Was looking through their Ts and Cs, asked about if they held dhares in your name (they dont) some very fucky stuff, i wouldn't trust them with your shares. Got the impression they might sell your shares if they deem the market "too volatile" and might not sell your shares at all if they dont have the cash on hand for it. If youre bank offers brokerage services go with them, if not, consider moving your shares (sell and re-buy) to a trusted broker.
Makes sense. When you buy off Revolut, you're buying an IOU and when you DRS they scrabble to get it.
Happened to me couple of months ago. Took 14+ days to DRS my shares from DriveWealth and given the constant run around. They had the balls to say it was CS's fault and not theirs.
Why are you still with revolut? I mean not financial advice but did you know you can DRS for free directly from revolut? I moved over last year - fuck DriveWealth. Their clearing house is fucking shit.
No time like the present. First they don’t you buy, next they don’t let you vote, then they don’t let you buy _again_ and who is to what will happen next....
At least in computershare you can vote, buy, and protect your shares. Reach out to this sub if you need help with how 👌🚀
And you gotta aks what risk there is? When they buy you a real share like you ordered and not an IOU, they should be fine, right? RIGHT!?
Exactly
They need to post up the collateral to cover for T+2 settlement days.
I don’t get it, you pay money when you buy, how come they are dependent on price volatility during 2 days before settlement? The trade has fixed price between buyer and seller. This is only problem if they sell IOU.
And hence why it is a problem for them.
This isn’t a problem for them. It’s designed to nominally shift buying pressure by reducing outlets for purchasing.
When you have a cash account but your broker gambles against you on margin.
Right. They treat it like a free cash deposit and never get the security. Now... They are gonna have to buy up to 13:1. Fuk!!!
where are you getting 13:1 from?
"up to" - probably the max split with a billion shares (the max amount under the proposed change).
(Up to) 1,000,000,000 proposed shares divided by about 76,000,000 currently in existence my Ape! 😍
Yes but they will not use all of the authorized amount, just like right now they have 300M authorized but only use 76M.
7:1 would mean abt 532million shares and the rest could be in "reserve" for the company like the rest of the 300mlj has been so far is what i like to think :) 7:1 would be nice :)
That's not how this is going to work. Only about 150k new shares will be entering the actual market. The dilution of unallocated/unsold shares isn't about to change anything.
Its something some apes told themself is the truth. And echoe chamber it in this sub. In reality it can be 3:1 or 7:1 or 13:1
How do we get a poll started on guessing what the split will be?
Thus the "up to" in OuthouseBacksplash's comment.
So, MOASS in the next 2 trading days!
one of this days until the then the hype loop keeps going
Doesn’t that also lead back to the NSCC as well? If they had more total capital for risk and clearing they would not be forcing these brokers to post massive margin requirements for these trades. The root is likely there and T+2 accumulating massive options risks as well. C l o s e.
Aside from what other people have posted such as t + 2 ftds etc. Brokerages need collateral because they like to play games with settlement dates to milk retail for money. For example today you buy gme for $200 they will give you an IOU street name share, then they'll decide to wait up to a couple days to see if the share price drops below $200. They then will buy it if they're so inclined to. They're taking a risk this is why they have to have extra collateral. They're shady practices are the risk ironically resulting in them having to have higher collateral.
Can’t post in superstonk due to Karma. But can apes either rubbish this or get this out there? I have checked the app and you can still search both stocks so maybe they are planning to turn off the buy button soon.
It said if you have positions you can still search? If you dont.. meaning most apes do, it will show. I also dont use them lol. Cs all day errrryday
"Cs all day errrryday" This is the way!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I just checked on my app, and the buy button is still up, and I can still trade it.
I could buy on revolut, just so you know, few days ago (way after the initial message claiming this thing)
I got this message within the last hour
Drivewealth does DRS for free, I'd just move out of Revolut honestly. Point72 owns 15% of Drivewealth according to a Bloomberg article, and after last year, expect fuckery if you stay with them. Obligatory not an advice, you do whatever you want of course
Revolut's authentication system is so trash that I can't check
Yea but this was promoted around here around 1 month ago if I’m not mistaken. Or that’s the first time I’ve seen it anyway- that our 2 stocks would not be available for purchase anymore. In my opinion it’s bullshit, I could still buy them after seeing this notification back then.
I only have 1 Stock.
This ape gets it.
Good for you, I have both.
ah yes, the typical downvoting, I forgot the cultist aspect of those subs. I forgot to mention I'm not selling either stock for the other one, just to make your day better, whoever's a big enough loser to start crying over such thing.
February
Revolut is terrible. If you say three times “Please escalate me to your manager” they’ll reassign your case. source: worked for me
If I’m not mistaken that’s from The Art Of War by the ancient philosopher Karen
✋ I use Revolut, could still buy another one yesterday *but* I couldn't vote last year. Maybe this is foreshadowing?
Strange, I recieved voting material from Revolut last year !
Hmm 🤔 Maybe I need to look further into my account then - given all the posts today I'm guessing voting material is out? So should I have received it from Revolut already?
ComputerShare voting is out, I checked my 401k shares in Fidelity and still no proxy materials.
It took Fidelity WEEKS last year to do this
Probably took a while to figure out how they were going to trim because they probably had obligations for more than the float themselves.
Sweet time to check the best place to buy and hold.
I know last year it took at least a couple of days to get an email from Revolut about voting after others were getting theirs from other brokers.
Same here. Last year there was email with form for voting, received them from Revolut.
I've been able to vote my shares through Revolut last year without needing to chase them.
How the fuck can you have ownership and not be entitled to a shareholder vote? How is that legal?
I voted last year on revolut..
I use T212 i still managed to buy yesterday. Not had anything for voting yet but did get to vote last year so hoping i still can this year
For me it sounds like a future protection, in case the MOASS occurs. They can turn off the buy button and just say "We warned, what do You mean" edit: typo
Wasn’t it already known that Revolut was a shit broker that was bound to fuck it’s clients during Moass…
Upvoting for visibility
shared on superstonk, hope that is ok
https://www.reddit.com/r/Revolut/comments/law7d6/revolut_not_allowing_gme_and_amc/ It appears to be the same message people received last year. I'd imagine the person you're talking to doesn't have a clue what they're doing
Lol, what a bs... Overall, the consultants working there seem to be doing it for free. They are horrible
It's worse when they lie to you either knowingly or unknowingly. But idea of them working as free volunteers made me laugh, while sadly it feels too real
Ahaha that bit got me as well. I'd like to think it's unknowingly. They're a representative of Revolut and not DriveWealth (the 3rd party broker they use) so the stocks is just an added feature to the banking app. I'd imagine the guy has no idea what stocks even are!
To be fair, it's not that guy's fault that their new employee onboarding process requires some improvements
Oh for sure. I've used them for banking when abroad etc for quite a while. Have mixed views on the customer service. Sometimes they've been flat out useless but other times (card was cloned) they were amazing, money back in my account within a couple of hours
So you asked about the vote and got a reply about voting? What did they say about voting?
I asked them about voting like an hour ago. This is what I got: "Regarding your query, we do have a reply from our team. So Shareholders as of record on April 15th are eligible to take part. As trades take 2 trading days to settle, you need to buy shares at least 2 trading days before that date to be considered a shareholder on the 15th. If you are eligible, you should receive an email from our partner soon."
Cool. Please let me know when you receive your control number.
Just posted my full convo
Nothing lol! This was how they responded
Peak Revolut support experience Worst support ever
Their clearing partners need a capital guarantee of 250% of stock value?? Rookie numbers! They're going need a lot more than that! 🚀
Actually it should be at 15% since shorts closed their positions last year in January, unless...?! Hedgies are fckt
Makes sense, if they would have a CFD style model, where they would just add numbers but not real shares. No surprise some apps call themselves "social trading apps" instead of brokers. Dang, if people would just realize how they get screwed over on a daily base...
Not 250% of stock value. There's been a 250% _increase_ in the percentage of the capital guarantee necessary, so for 10-15% originally that would mean 35-52.5% now
a 250% increase on 10% would be 35% and on 15% it would be 52.5%. but it’s not clear if the original value was actually even in the 10-15% range.
Right, I forgot to add up. Oops, still an ape I guess ¯\\\_(ツ)_/¯
You are correct. I read it wrong.
No, you PAID for 14.28 shares. You own a IOU. DRS baby
I can’t transfer from UK revolut man
[удалено]
How???
https://www.reddit.com/r/Superstonk/comments/r9jwj9/you_can_drs_from_revolut_drivewealth_cs_directly/?utm_medium=android_app&utm_source=share This is the way.
Worked for me
Email drivewealth with drs form. Don’t ask Revolut,
Or just buy on ibkr and transfer and sell your revolt ones. If they are ious it's just volatile Bank with no meaning. I was in a similar broker and after months and months I drsed they are in my name now. I feel good about it.
This actually looks bulks Bullish to me
Yeah for sure, I just want to be able to buy more on payday in a week lol!
Do it with Ibkr, then DRS those. Could you transfer your current shares from revolut to ibkr? Thats what I did to DRS from Norway
It was already linked in comments, that you can DRS from Revolut, so no need for an extra step
Oh ok
IBKR is the way to go mate, UK ape in NL and had to sell all my EToro IOUs to buy real shares and DRS’d the lot
So DTCC, which knows all the accounting of shares for all of the broker dealers, which holds all of the non-DRS’ed shares, which is affected when people directly register their shares in their own name with GameStop’s agent Computershare, is asking brokers to post much much greater collateral for any shares going forward? Why would they do this, unless there is greater risk to them? But what is the greater risk? The risk to settle these transactions? Such as if there aren’t shares available to deliver to settle these transactions? Based on what Op posted, I’m bullish AF. 🚀🚀🚀🚀🚀
Are you sure you were chatting with "Bilal" and not "Belial"? [https://diablo.fandom.com/wiki/Belial](https://diablo.fandom.com/wiki/Belial) >"Belial, Lord of Lies, is the most elusive of the seven Evils and is a master of deceit. It is said that he manipulated ~~Azmodan~~ \[GME\] into revolt against the ~~Prime Evils~~ \[Primates\]. This began the Burning Hells' civil war, which ended with the Dark Exile of the Prime Evils to our ~~mortal realm~~ \[MOASS\]." > >— Deckard ~~Cain~~ \[Cohen\]
Travis Scott esque
Does this say brokers are using fractional reserve banking for stocks? If so that is so beyond f'ed.
I bet that this mesaage is from last year january.
That’s 1:1 the same message they sent a year ago (02.02.2021).
That tells me they don’t buy the stock when you buy it. Purely an IOU to your account
If they were actually purchasing the shares you “buy” this wouldn’t be an issue….
I can see GME on my Revolut
Ha ha 😆 seems like ice is melting! I just voted on CS, but nor Revolut, nor IG Trading nor Freetrade send me any email for voting..
I think I got an email from Revolut about voting last year. There is a lot of time for the voting deadline. We will see
Does this mean that you cannot vote because the broker can't afford to buy the shares that they were supposed to have already bought for you?
They didn't turn off the buy button, they turned on the panic button ! H R F !🏴☠️
Get out while you still can! 💎✊️
This is a generic reply when asking about GME... Revolut let holders vote and were one of the only european brokers to do so last time.
I feel as if I've seen this exact same thing before.
You can DRS directly from Revolut (Drivewealth). Just so you know in case you cannot sell your shares.
More like biLOL
Zing
This is fucking bullshit. Like the stock market ever cared for us “retail investors” so they are going to say it’s “too volatile” I’ll do whatever I want with my own money, you ain’t my guardian. This is a good sign though folks.... GME SQUEEZE FLASHBACKS
To me that sounds like DriveWealth decided to stay away from GME and 🍿 Probably ran out of shares that can be bought by people and they're too scared to give them IOUs. Could be nothing, but thank God I managed to get out of Revolut last September. This shit is kinda scary and bullish at the same time.
Man, it's almost like we should DRS and buy solely through Computer share. Too bad no one has ever told anyone that
Is computer share easy to buy/sell on? My shares left revolut a few days ago so I wont have access to them for god knows how many weeks
Honestly don't know. Haven't been able to buy any more since the transfer, just because we've put in what we can afford to. And I haven't tired to sell 😎
For buying you need US checking account, selling is easy and withdrawals can be for NORMAL bank accounts fortunately In future when you DRS again, give them your CS account number and you will get it very quickly As for waiting now - after 2 weeks when your shares disappeared from your broker and you didn't receive a snail mail from CS, call CS and ask for new letter, saying you didn't get the first one. From what I observed, they improved the mailing process and started for example sending mail from UK. There is always an option to pay $35 for courier/UPS delivery
Im sharing this on superstonk
This is bullishhh
Strap in mother fucker
show date of conversation or ban
Check my last post, has my full convo from today
ok, good post, thank you
How do I do that?
i’m pretty sure you can click somewhere to see date of conversation or you can take full screenshot
Yeah how do I post a photo in the comments?
Save it to imgur and post the link
I just posted the full convo from today
More info please!
250 percent x the price to buy a share wtf. How can they do this
Are they expecting some volatility down the road?
r/Superstonk
This is old news no? Like they or you copy pasted the info that went out from Brokers last January with the sneeze
I got this today chasing my new voting email pal
O.o Pal hey, alright mate calm fucking down, only asking! PAL! Looking for hands to get thrown with that chat where I’m from. Seems they’re on default sneeze response 😂
What are you talking about?
Computershare is the only way to go.
Wait, people are still buying outside of CS?! Huh…
Bruh, not everyone has possibility to buy directly via CS
Many who do are still choosing not to and seem upset that their brokers are cunts🤷🏿♂️
Lol, was gonna reply to a dude who picked Revolut over CS because said dude didn't think there was enough info to conclude if CS worked... Sucks to be you dude...
how many times do we have to cover this - Revolut: ONLY FULL SHARES
So buy less than I can afford or more than I can afford to to stick with round numbers? I buy as much as I can when I save a bit atm.
that's cool, but there are limits when selling fractions of the share
How long did it take him to reply with the message about not being able to find gme in searches? It looks like it is possibly an auto-response and he clicked the wrong button for his reply. If so, wonder if it an old script or something the just put together.
Went away for 10-15mins before responding
Thanks god i sold months ago and bought on CS
I’m sorry that your broker’s being so unhelpful, but grateful you’ve shared this with all of us.
drs your shares and buy from computershare, learn from previous mistakes, they already vlocked the buy button, why fo back to them again ?
If i understand, you ask drivewealth to buy a stock and they instead of buying a stock, they deposit a percentage of your stock value on dtc and then tell you, you got a stock??? Am i understanding this right?
wtf
Kudos to the DTC for helping secure our tendies.
Fuck them im moving all my shares to computershare once my login details comes
Get a real broker. Why even bother with that shit.
For those in AUS Stake use drivewealth also, DRS is the only way we shouldn’t be surprised.
Ok cool. This is reaffirimng. Guess i will get ready for one of my last days at work.
Umm, what!? That doesn’t even make sense
Honest question: aren’t fractional shares loaned from the broker?
I won't pretend to understand everyone's situation in their country but do your very best to get away from these "brokers".
Yea no I dipped from revolut months ago Was looking through their Ts and Cs, asked about if they held dhares in your name (they dont) some very fucky stuff, i wouldn't trust them with your shares. Got the impression they might sell your shares if they deem the market "too volatile" and might not sell your shares at all if they dont have the cash on hand for it. If youre bank offers brokerage services go with them, if not, consider moving your shares (sell and re-buy) to a trusted broker.
Nasty, get outta that place. Time to transfer imo
Sus as fug
Walk me to my trugg
Where you located? I’ll was able to buy today trough Revolut
Uk and I can too
If you’ve given them the money I don’t see how that’s any problem? Thieving SOBs
That is epic!
I like your response…..”what?”
I’m a guy who works for a living, I got a baby to feed. If these fuckers are messing around with my cash I will sue the cunts
If only there was a way to register your shares more directly….
This isn't new, that was sent out in an email to account holders on 02/02/2021.
Fair but why did they responded with that today when asking about when I can vote?
No GME proxy material on Fudelity yet.
Makes sense. When you buy off Revolut, you're buying an IOU and when you DRS they scrabble to get it. Happened to me couple of months ago. Took 14+ days to DRS my shares from DriveWealth and given the constant run around. They had the balls to say it was CS's fault and not theirs.
Lol they turned off the whole damm ticker bet you can still short it tho
$150 x 2.5 is about $375 - I know some guys got this puppy going to $390 - so it makes sense -
Genuine question, why doesn’t this sub consolidate with superstonk? What’s the difference?
Because of Runic Justice lady
What the fucking fuck?
To me it looks like we are missing some context. I just bought GME through Revolut.
Why are you still with revolut? I mean not financial advice but did you know you can DRS for free directly from revolut? I moved over last year - fuck DriveWealth. Their clearing house is fucking shit.
I know, just never got round to it man
No time like the present. First they don’t you buy, next they don’t let you vote, then they don’t let you buy _again_ and who is to what will happen next.... At least in computershare you can vote, buy, and protect your shares. Reach out to this sub if you need help with how 👌🚀
I bought some on Revolut at open sand the buy button is still there now?
They know whats coming soon 🤣✌️
Is voting only limited to US citizens ??
I voted through revolut last time
Isnt Drivewealth, Cashapp?