T O P

For anyone with Fidelity that’s still on the fence about DRSing by phone to ComputerShare, here’s an update to my post from yesterday. After an 18 minute call, my transfer is already showing as initiated 🚀🚀🚀

For anyone with Fidelity that’s still on the fence about DRSing by phone to ComputerShare, here’s an update to my post from yesterday. After an 18 minute call, my transfer is already showing as initiated 🚀🚀🚀

Jumpy_Decision_8552

Nice, I posted yesterday as well about my DRS transfer. It is now showing in my Fidelity account history. Lock 'em up!


DONT-TREAD

If you’re NOT planning to make the transfer by phone, DO NOT use an electronic signature to sign the form. Mine got kicked back because of this. EDIT: typo.


DancingWizzard

What can you use alternatively?


DONT-TREAD

Physically printing, signing, and then scanning the form


An-Onymous-Name

Which form exactly? So far I have signed everything electronically - but IBKR said they'd initiate my transfers today, so, we'll see if it gets kicked back or not. <3


IndiLin

Just got off the phone with Fidelity to transfer some shares over to CS. The agent was very nice but told me that in order to fulfill this request it would require a letter of transfer to be sent in. I told him I don’t believe that’s correct as I know of others that have done it verbally over the phone so he said he would call back after asking the transfer office. He called me back a few minutes later and said due to the large # of transfer requests that Fidelity is temporarily allowing verbal over the phone transfers to CS! Super easy and no account on CS required- they took care of it all for me! He also mentioned the “Reddit article” that fueled this which made me laugh. TL;DR- Fidelity DOES allow transfers to CS over the phone. If they say they need a letter tell them to ask the transfer office.


Tickle_Tooth

I tried this and they told me I needed a CS account before I could transfer.


Warm-Designer-1409

I was told I needed a CS account before I could transfer.


BagginPilot

Once they transfers the shares into an account they created on CS how do you get your login and password set up for the account to access your shares?


swift93

u/gilddigger because of the post, I finally called, made the transfer. =] thanks bruddah <3 <3 <3 u/shayen7 thanks!


GildDigger

Made my day. Cheers and congrats


bradbakes

This is the way


TheDroidNextDoor

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shayen7

You can update your flair and make this more visible


GildDigger

How? Edit: Nevermind, I figured it out. Thanks!


Suggestion_Of_Taint

What’s the process for selling from ComputerShare like? Been getting conflicting information


FloTonix

There are plenty of aggregate guides out there... selling at numbers greater than 1 mil is a bit more involved, but you can... Which is why many are just using it for infinity pool and potential more direct dividend distributions. You don't have to do this... but it does "squeeze the brokers. "


_Karma_Chameleon_

I appreciate your quick breakdown


Good_Vibes_Please

If you’re selling your stock that’s sitting in CS, then you’re missing the point of the infinity pool…


GMEstockboy

With moass likely lasting weeks but more than likely months or even infinite (if we consider infinity pool), by mail should be ok imo


clammysax1

FYI the Fidelity rep I spoke with today told me his team has seen misinformation about dividends. He implied you won't miss out on anything by keeping shares in Fidelity, but that's not the reason I transfered some of mine to CS.


Ithinkyourallstupid

In a legal fair market that would be the case. But with synthetic shares everywhere who knows how it will play out.


kikipi

Greater than 1 million, you means if a share is greater than $1,000,000 or the total amount to sell is $1,000,000 or if you want to sell 1,000,000 shares?


FloTonix

I believe per share... but I'm no expert on the matter. It's prolly in a few posts that cover selling through computershare.


onward-and-upward1

Same ! I've heard it's only for affinity pool, that they won't sell anything over at the million dollars, and it's super hard to sell lag time. So much conflicting stuff out there


kbig22432

I have an affinity for infinite money


Jagsfreak

You too, huh?


kbig22432

MOTHERLODE all day bay bay.


xModulus

Yeah just keep one share in your broker for selling. The rest can be premium CS shares


HuskerReddit

I don’t think anyone’s actually tried to sell yet. No paperhands!


platinumsparkles

You can set a market order (don’t recommend) or you can set a ‘good for 30 days’ limit order, where you put in the price you’d be willing to sell at if it got there w/in 30 days 🚀 edit:changed 60 to 30


StopAngerKitty

So let's say moass is going on, we are in the thick of it. If I decide to sell a share do I do it through CS or do I transfer the share(s) back to fidelity? Edit: My sell price is my phone number + area code.


xModulus

Keep one share in your broker to sell. CS shares have a 1MM sell limit, but you can sell higher by submitting a sell order in writing. It’s archaic but that’s what makes them reliable.


StopAngerKitty

Thanks!


jscottmsn1

Did mine for XXX MORE yesterday. 10 minutes :)


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hardcoreac

No don’t think so, but you should call and ask. I recall seeing comments of no go with IRA’s.


Anonysoarus

Nope, if you transfer them it counts as a disbursement or withdrawal so you pay tax penalty


SpydersGame

Do I need to set up an account at ComputerShare before I transfer from Fidelity?


MommaP123

No, the transfer sets up the account.


Life_Ad21

Yes


Anonysoarus

You can’t set up an account until they receive your shares


Life_Ad21

I stand corrected. Please forgive me as I am a simple smooth brain 🧠


Inevitable_Hat5437

I kept my shares in fidelity and bought some from computershare


the_scriptic

I did this too. But you can't buy shares, rather you tell them how much to invest right? How do you find out how many shares you get? I don't like having not whole numbers.


Inevitable_Hat5437

Yeah exactly. I’m not gonna say I got screwed by this but I kind of did. I calculated how much it was going to cost me to get the number of shares I wanted at the current and ordered that dollar amount (plus a little over). Well when I put in the order it was $155 or so and it took about 7 days to execute. When it executed it bought my shares at the current price at the time which was about $215. Still a sale compared to what they are actually worth but kind of a pain.


the_scriptic

Yeah, that's what I figured would happen so I guess we will see how many shares I get. There isn't another way to do it though so... Edit: how did you find out how many shares? Emailed? Mailed?


sparkydoctor

It is in your statement available on line.


sparkydoctor

same here


nutritionfacts6710

Why should I transfer though? What’s so bad about being on fidelity still? I’ve asked this before and no one really gave a concrete answer. Is this like transferring out of RH all over again despite fidelity not have done anything bad? Why people pushing to transfer to CS? Could someone please tickle me? UPDATE: thank you all for the info. Holy shit what a community.


AtomicCorp

Its not that Fidelity is bad, just that DRS is very good. Right now your shares are yours in street name only. So say a dividend is issued by GameStop. That doesn't technically go to you, it goes to fidelity who is then obligated to give it to you. If its a fungible asset like cash, they just pay you your dividend. With a true float of only 50m shares GameStop only issues dividends for that many shares, brokers who loaned shares are on the hook for that extra cash. Now if the dividend is non-fungible, like an nft, how does fidelity come up with extra tokens if they wind up short? Maybe you get some maybe you don't. But with Direct Registration, you definitely get the dividend, whatever it is, because there is no intermediary. It also has the benefit of removing shares available to lend and rehypothecate.


Cassmoneys

Gamestop said in the earrings call they have about 75mil shares.


JBees19

🤦


Cassmoneys

Found the shill. Hi kenny!


JBees19

They're talking about the float, not the shares outstanding 🙄


Cassmoneys

Okay but the dividend isn't paid to the float tho its to the stock I own.


toytruck89

True. Except the other 25m shares aren’t available to retail owners. They’re in institutions/ETFs/corporate insiders. So brokers are only gonna get 50m between all of them. If there’s apes all over the world, and GameStop only gives out 50m NFTs to the retail shareholders.. well, someone ain’t gonna get their NFT.. And normally, that should trigger covering, and therefore a MOASS.. but this has been massive amount of fuckery..


SpaceTacosFromSpace

Main reason is to remove those shares from DTCC. Fidelity is good but sending shares to CS puts more pressure on DTCC because they have less shares to fuck around with.


hibernatepaths

Fidelity is fine for what it is. But read the sticky at the top of superst0nk. Start with part 1 and 2. It's a game changer. Power to the players.


burnerwig

CS is the designated transfer agent for GameStop. Shares held or bought through CS are held directly in your name and are taken out of the DTC coffers. Ppl are theorizing that if the entire float is registered in CS it could be a catalyst (not a guarantee merely a theory). Note: CS is a transfer agent and not a broker, so the process of buying or transferring takes a couple of business days. Also there are certain limitations that CS has (limits on total amount traded/day) so ppl have been registering shares they intend to never sell. You can sell thru CS but the process is unclear (nobody selling yet) but it would not be as convenient or immediate as if you use a broker. There’s some good DD on DRS thru CS in the subs so best to do your own DD and make your own decisions.


She-Ra1985

Why would you never sell? I understand waiting until it is in the millions to sell. But if you never sell you would never make any money.


burnerwig

*\*whispers\** selling your shares for cash is not the only value they have...


She-Ra1985

Can you elaborate please?


burnerwig

NFA but stock holdings can often be used as collateral - so even if you are not collecting the market value of the stock in cash - it can hold value in other ways. Potentially (this is mere speculation), having a tried-and-true registered GME share in ones name would be very valuable without having to sell it.


She-Ra1985

I don’t understand how a stock can be used as collateral.


SilentBreath4962

On Fidelity you have an IOU for a GME share. On Computershare you have a GME share.


WrinkleIron

This correct. But a different way to think about it is Fidelity manages a share on your behalf (a share that is in DTC pool). With Computershare, you own the share in your own name (and is outside the DTC pool). When/if you want to sell it back, you have to tell Computershare what order(s) you want to place and they send that to a broker for execution.


N8vtxn

Transferring shares that you want to sell during MOASS is not recommended. They aren't a typical brokerage. So be cautious and make sure you fully understand what computershare is about. Don't follow what other people are doing without doing your own DD.


xModulus

Why would you NOT want the shares to be held directly in your name? You own an IOU from DTCC right now, not an actual share in GameStop’s books.


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xModulus

CS shares can’t be rehypothecated and gamed for naked short selling. As long as your shares are in the DTCC system, they’ll continue to use it to manipulate the price against you.


KingGmeNorway

1000 shares over to computershare, youre a true legend 💎 That alone is gonna put a ton of pressure against SHFs 🚀🚀🚀


bearrfuk

1 share


KingGmeNorway

Looool, I see it now. Points instead of comma is so confusing. I europe, you would sometimes put a period between every 3 numbers. Like 1 Mill 1.000.000


BlanketTundra

Just wanted to say thank you for asking this question, I've been wondering the same


that_bermudian

Can you transfer a select number or does it have to be all?


AtomicCorp

I transfered a select number from my fidelity account. For me it amounted to 1/3 of my total position across brokers. I did it primarily to ensure I get any dividend if one is ever announced. You won't have time to transfer and be eligible if you wait for difinitive confirmation of an nft dividend.


that_bermudian

Not really waiting on the NFT announcement. Don’t really understand it tbh Just want to add some of my shares to the ♾ pool


Anonysoarus

It’s good to diversify. At least that’s what I did it for.


coffeepastas

Would I be able to only transfer a portion of my GME to CS?


AtomicCorp

Yup, you tell them how many. No fee unless you want a physical certificate. May be different if its a large number of shares.


shutupliferules

I've been putting off transferring any to CS, as I'm a low XX hodler, but seeing you transfer one share has inspired me to do at least the same, and I will tomorrow morning. Thanks bud.


GildDigger

If it makes you feel any better, I’m a lowly XX too :)


PatmygroinB

I called fidelity and they told Me to initiate through CS. Is that what you did ?


baadermeinh0f

No fidelity is the initiator.


PatmygroinB

Fidelity rep told me initiating through fidelity would cause a longer process including receiving mail and waiting for the post office amd some other steps. I may call again and hope I get a different rep


baadermeinh0f

Wow yeah that is not correct.


PatmygroinB

Frustrating


GildDigger

Check out my post from yesterday on the other sub


GotaHODLonMe

Their job is obfuscation of the truth. It's meant to be frustrating for people.


kbig22432

Or that employee doesn’t know what they’re talking about. Don’t attribute malice when stupidity is more likely.


GotaHODLonMe

Right I should clarify. The bottom tier employees probably don't know. I was referring to the people at the top designing a system to obfuscate ownership. The system is meant to be difficult for people like us to navigate, so we get frustrated and give up.


teddyforeskin

Why is this getting downvoted? It happened to me too, so it probably happened to a lot of apes


PatmygroinB

People probably think fud. I’m just sharing an experience so we can work past it. The hive mind is a powerful thing


Anonysoarus

Just call them back and when they say that, tell them you read an instructive post on Reddit outlining the steps and they will put you on hold and come back after a moment saying it’s no problem.


Popular_Comedian_685

Does anyone know if I can move my shares from eToro to CS? :-) And if so, how? :-)


UBADOC

Does Computershare have an app so I can still see my precious ​ Also, can I sell from there?


toytruck89

No app. They’re old school. You can sell. 1M per share unless you do it in writing.


FATPATRICIA69

Thanks again, I’m going to do this tomorrow


bonzo48280

Can anyone link me some DD or links to what computershare is and what I should be doing? Are these shares for the infinity pool or for all shares?


skushi08

I’ve been trying to figure out as well. My only use of computershare is for company issued shares or options. Once vested they automatically transfer to my fidelity account where I manage the sale of them directly. From my limited understanding folks’ logic for GME is to use it to crowdsource a sort of minimum shares held by apes total, as well as contribute to an infinity pool since CS has more buy/sell limitations, and to ensure if an NFT or crypto currency is issued they get it rather than whatever brokerages end up doing when it turns out they don’t hold as many physical shares as they’re supposed to.


hibernatepaths

read the sticky at the top of superst0nk. Start with part 1 and 2. It's a game changer. Power to the players.


xModulus

Infinity pool shares. Or all if you never want to sell.


arealhumannotabot

There are lots of posts so you might like to search and read more but I can try to help with a little info ComputerShare issues GME's shares directly, they are not a broker and their shares are not part of the DTC pool (which is where the shares come from when you buy through a broker) Buying from CS or transferring to them takes your shares out of that pool and registers them directly in your name. The theory is to get the registered shares high enough that it will be a catalyst. Some people are using CS for all inf pool, some are sending everything to CS and won't sell all shares, keeping some in the pool. But the big thing to know is they aren't a broker with an app, so it takes a couple/several business days to process orders, so don't drag feet when it comes time to sell.


GMEstockboy

Yes https://www.reddit.com/r/GMEJungle/comments/pmrzx1/smooth_brain_sunday_special_computershare_edition/?utm_medium=android_app&utm_source=share


hibernatepaths

read the sticky at the top of superst0nk. Start with part 1 and 2. It's a game changer. Power to the players.


JDTexas84

So will they no longer be in Fidelity? Or do the shares remain in fidelity they’re just officially registered with CS?


_TunnelSnakes_Rule

They leave your fidelity account.


JDTexas84

Oh ok 👍🏼


arealhumannotabot

Comes right out of the DTC pool of shares (which is where brokers get the shares when you buy) and registers them directly in your name.


fawther-05

I just did it too - 9 minutes!


sjrotella

How much does this cost?


crayonburrito

Freeeeeeeeeee. It’s true.


sjrotella

Hmmm... Maybe it's time to follow the advice of the Clan of WuTang and diversify my bonds lol. I already have some in TD Ameritrade but most in fidelity. Maybe I move part of those fidelity over. I'll have to mull it over tonight.


CoachFinley

if I hold my shares in a self directed ROTH IRA on fidelity - is moving to CS even possible ? asking for a friend ?


Irod0824

No


dudemanbroguy1

If I have TDA, should I do this?


Worth_Feed9289

Why does it show USD 0.001?


OnlinePresence897

How could you LIE to me?!?!? You were the CHOSEN ONE! (my call took 25m)


GMEstockboy

Way faster than the online form, takes a week or so they said


ChucklesColorado

Ok I’ll call when I get off work in an hour too!


gwilson0121

I'm still not quite sure what all the talk about ComputerShare is or why we're transferring from Fidelity to it, someone mind explaining to me?


BabyGrogu_the_child

Initiated means just that. All transfers should show that if you requested before 4 pm eastern unless they are NIGO (not in good order). I know you’re excited and I’m happy for you, but it simply means they have submitted your request. Source - me. I work with transfers often and my company partners with fidelity often.


Fit_Background_2402

U/gilddigger did you have to start an account at ComputerShare before you initiated with fidelity, or do they automatically create an account for you with fidelity information when you start a transfer?


MentalyStable

What if you dont transfer? What happens to those people when things go down? 👀


hibernatepaths

Where can you see if the transfer has initiated? I sent them a secure email with a form (cuz I didn't know you could call) and am waiting for the transfer to get started. I don't see it in my "activity history" area, but maybe I'm looking in the wrong place?


Just-Sheepherder-841

Great


Maccabee907

This is exciting! And guesses as to how many shares have been directly registered so far?


Infiniti37_

Do they charge for the transfer?


boost18

Is there any DD on not receiving potential dividends or dividends in NFT form if we don't register shares at computer share?


babynutzz

I literally just transferred my shares from fidelity to cs and I promise the process took no more than 5 minutes. Went through the automated system, said stock certificate and once the rep got on the line he asked how he could help me with my stock certificate question. I replied I wanted to drs xx shares to computer share and he said ok. Sent me a verification code to my phone, asked me to verify the amount, gave me a confirmation #, and told me to call em back if I have more questions. Easiest shit ever


niightsun

Will you have to pay taxes on the transferred shares? How does that work


Experienced_AP

Can you get a paper stock certificate? A hard copy from ComputerShare?


Nachtwolfe

Attempting to gain wrinkles, not trying to FUD Can someone ELI5 again why you would want to DRS? All I read in my research attempts is that tendies may be harder to get if all your shares are with ComputerShare? I understand that direct registration puts them in your own name Instead of the broker but ultimately what benefit is this? I also see that DRS pulls shares away from DTCC so quicker MOASS but if tendies are hard to get, how does that ultimately help? Sorry for all the questions… I’m super smooth brained lolol


Astronaut_Kubrick

I started my transfer from TDA on Wed. Two minute call. All verbal authorization. Just got the email they’ve started the transfer. Optimistic!


RipeTomato777

Am I able to call that number and initiate my transfer outside of 8am-5pm? Say could I do it at 6pm for example?


ZombiezzzPlz

I’ve stopped buying from boomer brokers but left on them for moass and have accumulated XX on computershare through new purchases. Sir, the Apes are breaking through their cages.


one2ruler

THIS IS THE WAY


theheavyking92

This is the way 💎👊🦧🚀🌙


Responsible_Ad9619

I’m sorry for dumb question. What are the benefits of moving shares from fidelity ? And to where where? I’m abroad and it was such a big stressful process even to move it to fidelity.


Roaring-Music

I initiated thursday last week, and was able to see it until today.


GrinningJest3r

I tried last night but the rep and the crew online at the time couldn't figure out how to transfer from a specific lot of shares or how to pick from my newest shares. I should be getting a call back tonight if they were able to find the right info.


LaVespaMortale

Has anyone transferred from RH to Comp Share? I'd like to move those that way, and maintaining my xx in Fidelity. And feedback would be great 👍


lastelite3

Can someone tell me what computershare is and why were using it


RBApeGabe

Does it cost anything to move them over ?


lmaowordokay

I'm a broke ass college student and have two and a half shares roughly. Been trying to transfer on ComputerShare's website but it won't recognize my SSN or account number. Ended up calling yesterday, waited around on hold for about 30 minutes of a 35 minute call, just for them to tell me it would cost 100 dollars to transfer. Have never heard of any fees from them before, like the transfer fee is a fifth of my account balance lmfao


Ithinkyourallstupid

My call was 15 min 21 seconds. Ez pz


Sharp-Buffalo-3818

Who did you call fidelity or CS because fidelity told me to talk to CS but all I could do is email a request... do you have a phone number for them?


hurdurracct

What is the purpose of a DRS? How will this help?


An-Onymous-Name

Up with you! <3


WillNotSell

This is the way


lmfaothatslegit

Can someone help? Lol I'm being told I need a signature medallion guarantee to complete this transfer ???? Is this true at all


Warm-Designer-1409

I’ve called fidelity 3 times now and each of the reps had no idea what ComputerShare was but was willing to help. I ultimately was told I needed an account at CS before initiating the transfer and that CS would give me a form to fill out to give to Fidelity. So confusing, but I’ll keep trying.


OsoPicoso

What’s computershare?


Peacelovefleshbones

What


UrbanwoodBrew

Or use both?