GameStop - GME - Share Chat

I’d say that’s pretty far from conservative!

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I agree, although to be fair, it could have started as 5% of his portfolio and just grown to 20% with no further investment…

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It was user smellylegend in this post:

LimitResponse

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Originally it was much closer to 5% but I have not readjusted following the gain. The last few months have also seen massive drop in my stock holding (-10/15%).

Exactly like this and lately my stock portfolio had quite a drop too.

Ownership of our US securities

Keeping your money safe (your stocks are protected):

  • Any US- Listed stocks are held by TP SEC Registered brokers, in the DTCC (With some shares being held by FreeTraded nominees limited)
  • When you invest in US-listed stocks, we hold them in custody at a third-party SEC-registered broker (the Security and Exchange Commission, which regulates US securities markets). Our customers’ stocks are held in a designated customer account at the broker, and cannot be mixed with Free trades own assets or used to settle our debts. Similar to the UK securities being held in CREST, your US stocks are ultimately held in DTCC (Depository Trust & Clearing Corporation). Currently, some customers’ US stocks are still held by Freetrade Nominees Limited in CREST, but we are in the process of fully migrating US stocks to our third-party broker. -(Keeping your money safe)

Isa Terms (Securities held):

  • We will arrange for you to receive a copy of the annual report and accounts issued by every company or other concern in respect of Securities which are held directly in your Freetrade ISA (we can charge a reasonable fee for this); and
  • we will arrange for you to be able attend any meetings to vote in relation to your holdings of Securities within the Freetrade ISA and receive any information issued to shareholders in addition to annual reports and accounts; -(ISA Terms)

T&Cs’s section 24.1 - (Corporate actions):

  • You hereby: (I) acknowledge and agree that we will have no duty to inform you of any corporate actions related to any Securities that are beneficially owned by you through our Services, even if we become aware thereof, (ii) irrevocably waive your right to exercise any corporate actions that may be exercised by the holder of the Securities that you beneficially own through our Service, and (iii) agree that the Custodian may in its discretion act on those corporate actions as it sees fit (which may include not to take any action at all). – (Terms & conditions)

FT’s response:
• I can confirm the shares are held in the FreeTrade nominee which makes Freetrade Ltd the nominee shareholder. The beneficial owners are the underlying holders (e.g. you) and these are the legal owners of the shares. The nominee shareholder appears on the share certificate and the company’s documentation and public records but the beneficial owner receives the income and dividends from the share ownership.
Freetrade as the nominee shareholder does not own, loan or benefit from the shares in any way. We also have no claim over the shares and have signed a declaration of trust which states that we will not benefit and have no legal claim over the shares, thus protecting the beneficiary owner’s assets.

I can see in this comment (Trade Republic and Payment for Order Flow (PFOF)) that FT take a strong stance against PFOF and “FT make the majority of their profit through these means:

Questions for FT:

  1. What broker specifically holds my shares? (along with by “FreeTraded nominees limited”)
  2. Where can I view the Share certificate for my shares?
  3. I can see that Freetrade doesn’t do this as per your teams response however as previously mentioned, the majority of US shares/ securities held in the UK through FreeTrade are Purchased through US SEC brokers and held within the DTCC, so what are that nominee holders intensions.
  4. I would like to enquire with this US based broker as to whether they are lending them out on margin to be shorted, which in my opinion could be an alternative revenue income for FT, and is or may be being used to generate PFOF data as is illegal in the UK – “ (In short, this letter restates that “PFOF arrangements introduce a conflict of interest which is likely to cause harm to clients and markets”. It then goes on the talk about MiFID II, which is a revision of MiFID (“Markets in Financial Instruments Directive”). The FCA states that MiFID II “further restricts the practice of PFOF” and “strengthens the conflicts of interest requirements”. – https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-payment-for-order-flow.pdf) ”
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It’s Drivewealth isn’t it?

And to preempt the question, their CEO spoke out against the GME broker shutdown, Bob Cortright. A board member does have a link to citadel but they’re all so interlinked in that industry it would be harder to find a firm that wasn’t.

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Cheers

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“Ortex said short interest in AMC is currently estimated to be 18.3% of freefloat and in GME it is estimated at 21.8% of freefloat.”

Interesting that this, while high, is wildly lower than what the redditors are claiming.

Who knows how the mysterious & magical place that is Wall Street works where public companies have over +100% institutional ownership and stocks bounce about like 15 year old on Kat Dennings’ milkmakers?

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Ah yes. 21.8% of self reported short interest. Good times :partying_face:

Interestingly, GME is simultaneously the 1st place holder of the largest value of shorts and is the most in demand stock, according to IKBR.

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A lengthy but interesting read here …

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Have we hit $25k yet? Asking for a friend.

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Soon…

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Highland Troll might be more apt :rofl: :upside_down_face:

Calling someone who actually owns GME stock a troll, is a bit weird. But then we do have lots pf people who buy meme stocks on the back of of a social media post from a stranger. So weird is about par.

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Meh, I watch you flit from thread to thread regarding GME and troll those who believe this will squeeze. You bring no DD, counter DD or anything of interest to the conversation. Why do you even own it?

I’ve been kind of staying out of all this and just getting on with life and that, but the value in holding GME stock isn’t entirely dependent on any kind of squeeze, you know. Provided your share price average is reasonably low regardless of anything to do with all that side of the drama, it’s been a sound ‘standard’ investment at various points, particularly before all this “MOASS” stuff kicked off proper when the business transformation was just getting underway.

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I don’t need to do my DD on this forum, nor do I have to do it for anyone else. Nor do I think copying and pasting DD done by others who also copied and pasted from others is classed as being of any use whatsoever. It’s nothing more than lemmings crowding around at the top of a cliff.

I find it highly amusing that people get so defensive of a inanimate object like a company. Usually from people who are also defensive of video games, sports teams or similar. And usually from people who until a few months ago thought a short squeeze, was having a quick grope of a females backside in a crowded night club.

People will lose fortunes backing this stock, and I can guarantee it won’t be the wicked bad men at the hedge funds. It’ll be the man in the street who will lose because he read something on twitter or Reddit.

As for why I hold the stock, I think my previous comment regarding village idiots and leprechauns will answer your question.

Maybe he “likes the stock”. You know, in the way people used to in previous years.

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