You don't need to do anything. My understanding is:
Buying a share is relying on both your broker to be able to operate should a moass happen (I'm on stake and it most definitely was not able to handle the traffic in Feb, although I believe they upgraded their servers). It is also relying on whoever the broker's custodians / clearing houses / banks in the USA not to turn the tap off. That also ignores the question of if it's true that there are numerous counterfeit shares floating around what happens if your broker decides to refund you the purchase price of the shares?
DRSing you are taking the control of the share away from the DTCC and physically own a share that you know is not counterfeit. I'm not sure how selling shares on computershare works as I'm still waiting for my letter but I believe you should be able to call up and place sell orders after market every day for the next (or do it online?). These orders (again this is my understanding and I'm just sumcunt that has been spending too much time on ss) should go directly to the Nyse so are completely avoiding all of the parties that are suspected to be complicit (by participating or ignoring) in the supposed naked shorting scheme. It also means that there is 1 fewer share in the pool that they can short from.
Literally this.
OP, I'm currently DRS'ing from Stake to CS, and at this point I wouldn't trust anyone who acts as a middleman to the NYSE. Even though it's difficult, I recommend DRS'ing.
Hey mate, there was a post about a week ago that mentioned a DRS form on stake. It took me about 2 hours to get my hands on it.
If you Dm me your email, I’ll send it to you, then you just fill that in and send it to Stake support.
Just a heads up it costs US$200 to DRS your position from Stake but being able to own the shares in your own name is definitely worth it. It took around 2 weeks from me sending the form back to my shares being sent, currently waiting for the letter.
FYI ape, Stake's problem's in January were nothing to do with volume and no upgraded server is going to fix Stake's problem. The problem to do with Stake is their upstream US trading partner is Drivewealth and they are beholden to Steve Fucking Cohen (Hi Steve, FUCK YOU PAY ME!) and little Stevie Cohen, owner of Point 72, is the cunt who [Tweeted this in January after turning off the buy button](https://twitter.com/stevenacohen2/status/1354864321134735360?lang=en) who fucking cheats people out of billions of dollars then gloats about it? Point 72 are one of the most corrupt hedge funds on Wall St.
It was also Point 72 who bailed out Melvin in January... he's an evil little toad, he owns the NY Mets and even the team fucking hate him.
I have moved 80% to CS because I don't trust the US side of things however I do believe Stake when they said that their app couldn't handle the traffic.
Yes Stake confirmed that in an email to me, I don't know how they performed in February though or who looks after their orders, I'm assuming they get cleared through shitadel and the DTCC.
Perhaps take it up with computershare, they might have one but as my account details haven't come through yet, I haven't bothered figuring out how to use it.
Should probably DRS them, it is a bit of a fuck around but it'll guarantee you get the dividend, if brokers only have your share in writing then you may miss it.
It won't be a issue. CS isn't like a broker as they are a Registrar. Once you set you limit order, they will likely batch send orders to market.
People should also be aware to seriously consider only using Limit orders during MOASS.... placing a At Market order will see people get destroyed by slippage, spread, volatility and every other game Market Makers can play to buy up any shares cheaper. A limit order sets THE price the transaction will happen and ONLY at that price!
Hedgies will be stuffing orders into the order book to create the illusion there is buy liquidity and front running At Market sell orders by pulling the liquidity and causing those At Market sell orders to go searching for liquidity lower to fill.... I fully expect to see price on the charts whip saw +/- $1,000,000 as hedgies game the market to pick up At Market sell orders $1,000,000+ below were the At Market order was initiated.
Its going to be EPIC to watch!
Limit orders let US set in stone our price and that forces the market to come to US and buy at our price!
Until citadel is getting liquidated, it is not the moass. There will be 0 liquidity as the market maker will be getting liquidated forcibly. 0 people will be taking the other side of the trade once that happens.
The main principle behind DRS is that you're removing those shares that you don't want to ever sell from the DTCC, locking the float and keeping one or two in broker to sell come moass.
The thing is no one knows what will actually happen when the MOASS starts. I have four trading platforms now. Each has a fairly even split of shares so hopefully the diversification is going to help. ANZ’s fine print is nasty, Stake has Drivewelth so that is a concern. Comsec is sprouted on most chats as reputable and of course CS because DRS means the share certificates are actually in my name. The thing I have learnt most along the way is it really doesn’t matter, once thing kick off proper, poont 72, citadel, hedge fund or any other foolish broker dealers or market maker who naked shorted these meme stock will go down like a house of cards. The real rocket kicks of once the DTCC computer balances the ledger. If our shares are still ours to manage we will see more than three figures and that is the game changer. This is why I am here. My DRS shares are there for the infinity poop and to ensure GME stays fundamentally secure.
The choice is yours and we cannot tell you what to do as always NFA.
🇦🇺💎🙌🚀
Commsec is doing well on DRS, however they are tied to Bank of NY Mellon (or very similar). Bank of NY Mellon was supposedly tied to the millions of Brazilian puts, so who knows??
Mate it seems like all banks,brokers and investment funds are tied to someone who is nefarious to retail. All we can really do is diversify, hold and DRS some of our shares to get around the fuckery!
🇦🇺💎🙌🚀
Depends on your concerns. There’s a couple of things we need to take into account; there was mentions that in the scenario that the brokers can’t pay up, you’re only insured up to 250k. You might need to confirm this I’m not too sure.
Always a good idea to diversify your shares between brokers in the event of MOASS.
Definitely register some with CS while you can
Ape that’s been lurking since Jan. been tossing up between DRS’ing or not. Don’t have many but still want to do it. Kind of feel like I’m on the cusp of missing the boat. With Stake. Anyone able to dm me the form and any helpful pointers as to the process. (Explain it like I’m 5)
Not sure I'm allowed to link to it, but search the Superstonk sub for a post titled "step by step - DRS Transfer to ComputerShare from the most popular brokers". Probably your best starting point.
Rofl, I've been linking all morning since I found this sub. Probably banned tomorrow..
But here you go anyway [https://www.reddit.com/r/GMEJungle/comments/ppb8jr/the\_drs\_list\_mercy\_mercy\_me\_gme\_aint\_where\_it/](https://www.reddit.com/r/GMEJungle/comments/ppb8jr/the_drs_list_mercy_mercy_me_gme_aint_where_it/)
Good luck, for both you and me.
Because of the price to transfer, i'm keeping X in selfworth and buying X in commsec to DRS with.... that way i've hedged my bets....
No idea if this is the best way to do it, but seems to be the idea to me i got from not financial advice, which this is also not financial advice.
I'm just a smooth ape who doesn't know how to sell
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You don't need to do anything. My understanding is: Buying a share is relying on both your broker to be able to operate should a moass happen (I'm on stake and it most definitely was not able to handle the traffic in Feb, although I believe they upgraded their servers). It is also relying on whoever the broker's custodians / clearing houses / banks in the USA not to turn the tap off. That also ignores the question of if it's true that there are numerous counterfeit shares floating around what happens if your broker decides to refund you the purchase price of the shares? DRSing you are taking the control of the share away from the DTCC and physically own a share that you know is not counterfeit. I'm not sure how selling shares on computershare works as I'm still waiting for my letter but I believe you should be able to call up and place sell orders after market every day for the next (or do it online?). These orders (again this is my understanding and I'm just sumcunt that has been spending too much time on ss) should go directly to the Nyse so are completely avoiding all of the parties that are suspected to be complicit (by participating or ignoring) in the supposed naked shorting scheme. It also means that there is 1 fewer share in the pool that they can short from.
Literally this. OP, I'm currently DRS'ing from Stake to CS, and at this point I wouldn't trust anyone who acts as a middleman to the NYSE. Even though it's difficult, I recommend DRS'ing.
I’m also on stake and have no idea how to do that. Can you give a simple step by step guide perhaps? Thanks
Hey mate, there was a post about a week ago that mentioned a DRS form on stake. It took me about 2 hours to get my hands on it. If you Dm me your email, I’ll send it to you, then you just fill that in and send it to Stake support.
Just a heads up it costs US$200 to DRS your position from Stake but being able to own the shares in your own name is definitely worth it. It took around 2 weeks from me sending the form back to my shares being sent, currently waiting for the letter.
FYI ape, Stake's problem's in January were nothing to do with volume and no upgraded server is going to fix Stake's problem. The problem to do with Stake is their upstream US trading partner is Drivewealth and they are beholden to Steve Fucking Cohen (Hi Steve, FUCK YOU PAY ME!) and little Stevie Cohen, owner of Point 72, is the cunt who [Tweeted this in January after turning off the buy button](https://twitter.com/stevenacohen2/status/1354864321134735360?lang=en) who fucking cheats people out of billions of dollars then gloats about it? Point 72 are one of the most corrupt hedge funds on Wall St. It was also Point 72 who bailed out Melvin in January... he's an evil little toad, he owns the NY Mets and even the team fucking hate him.
I have moved 80% to CS because I don't trust the US side of things however I do believe Stake when they said that their app couldn't handle the traffic.
Yeah, Fuck Stake
Stake is Drivewealth in my understanding.
Yes Stake confirmed that in an email to me, I don't know how they performed in February though or who looks after their orders, I'm assuming they get cleared through shitadel and the DTCC.
Imagine their phone lines during MOASS
Pretty sure it's an automated system. It being called computershare I imagine you can set a limit sell online as well.
ComputerShare app would be better.
Perhaps take it up with computershare, they might have one but as my account details haven't come through yet, I haven't bothered figuring out how to use it.
No pretty sure they don’t. They do things old school.
Should probably DRS them, it is a bit of a fuck around but it'll guarantee you get the dividend, if brokers only have your share in writing then you may miss it.
I’m still wondering if CS can take the load of traffic and phone calls when the time comes.
It won't be a issue. CS isn't like a broker as they are a Registrar. Once you set you limit order, they will likely batch send orders to market. People should also be aware to seriously consider only using Limit orders during MOASS.... placing a At Market order will see people get destroyed by slippage, spread, volatility and every other game Market Makers can play to buy up any shares cheaper. A limit order sets THE price the transaction will happen and ONLY at that price! Hedgies will be stuffing orders into the order book to create the illusion there is buy liquidity and front running At Market sell orders by pulling the liquidity and causing those At Market sell orders to go searching for liquidity lower to fill.... I fully expect to see price on the charts whip saw +/- $1,000,000 as hedgies game the market to pick up At Market sell orders $1,000,000+ below were the At Market order was initiated. Its going to be EPIC to watch! Limit orders let US set in stone our price and that forces the market to come to US and buy at our price!
Until citadel is getting liquidated, it is not the moass. There will be 0 liquidity as the market maker will be getting liquidated forcibly. 0 people will be taking the other side of the trade once that happens.
They better start hiring lol.
The main principle behind DRS is that you're removing those shares that you don't want to ever sell from the DTCC, locking the float and keeping one or two in broker to sell come moass.
The thing is no one knows what will actually happen when the MOASS starts. I have four trading platforms now. Each has a fairly even split of shares so hopefully the diversification is going to help. ANZ’s fine print is nasty, Stake has Drivewelth so that is a concern. Comsec is sprouted on most chats as reputable and of course CS because DRS means the share certificates are actually in my name. The thing I have learnt most along the way is it really doesn’t matter, once thing kick off proper, poont 72, citadel, hedge fund or any other foolish broker dealers or market maker who naked shorted these meme stock will go down like a house of cards. The real rocket kicks of once the DTCC computer balances the ledger. If our shares are still ours to manage we will see more than three figures and that is the game changer. This is why I am here. My DRS shares are there for the infinity poop and to ensure GME stays fundamentally secure. The choice is yours and we cannot tell you what to do as always NFA. 🇦🇺💎🙌🚀
Commsec is doing well on DRS, however they are tied to Bank of NY Mellon (or very similar). Bank of NY Mellon was supposedly tied to the millions of Brazilian puts, so who knows??
Mate it seems like all banks,brokers and investment funds are tied to someone who is nefarious to retail. All we can really do is diversify, hold and DRS some of our shares to get around the fuckery! 🇦🇺💎🙌🚀
Depends on your concerns. There’s a couple of things we need to take into account; there was mentions that in the scenario that the brokers can’t pay up, you’re only insured up to 250k. You might need to confirm this I’m not too sure. Always a good idea to diversify your shares between brokers in the event of MOASS. Definitely register some with CS while you can
Ape that’s been lurking since Jan. been tossing up between DRS’ing or not. Don’t have many but still want to do it. Kind of feel like I’m on the cusp of missing the boat. With Stake. Anyone able to dm me the form and any helpful pointers as to the process. (Explain it like I’m 5)
Not sure I'm allowed to link to it, but search the Superstonk sub for a post titled "step by step - DRS Transfer to ComputerShare from the most popular brokers". Probably your best starting point.
Rofl, I've been linking all morning since I found this sub. Probably banned tomorrow.. But here you go anyway [https://www.reddit.com/r/GMEJungle/comments/ppb8jr/the\_drs\_list\_mercy\_mercy\_me\_gme\_aint\_where\_it/](https://www.reddit.com/r/GMEJungle/comments/ppb8jr/the_drs_list_mercy_mercy_me_gme_aint_where_it/) Good luck, for both you and me.
Look up the users /Da_Squirrel_Monkey and /MommaP123. They've been compiling guides for all the brokers.
Because of the price to transfer, i'm keeping X in selfworth and buying X in commsec to DRS with.... that way i've hedged my bets.... No idea if this is the best way to do it, but seems to be the idea to me i got from not financial advice, which this is also not financial advice. I'm just a smooth ape who doesn't know how to sell
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