Item — HN Reader

Sure. There is a lot of confidence on this thread both ways. No one will know until all shares are registered, which is why there is a rush by GME holders to DRS their shares with Computershare.

The markets have been corrupt for quite a while. This may be its Bastille moment.

1 comments

I completely reject this both side thing. Every data point out there shows that these conspiracy theories are unfounded. Even the redditors who believe this nonsense have debunked them themselves through their own experiments (the shareholder vote, the DRS thing) and they keep pushing the goalposts.

There's no global conspiracy to hide shorts of GameStop. It's flat-earth level nonsense. The SEC report spelled everything out, I suggest reading it.

>No one will know until all shares are registered

So we'll never know, because it's obviously not going to happen. Retail doesn't even own half the shares, if redditors manage to hit 10M shares registered I'll be impressed. I really didn't expect to read this drivel on Hacker News frankly.

The DRS bot they use is also easily fooled. R/Gme_meltdown users regularly have false submissions accepted to prove the point.

While this is totally true, let's not forget Gamestop themselves announced that a bit more than 5.2M shares were registered with Computer share at the time of their last earnings report, with the bot estimating something like 7 or 8M based on average shares per post * estimated holder, so not that far off

That is hugely off, even if you assume 100% of the registered shares came from reddit, which would be a very silly assumption to make.

I see your point. My personal opinion is that sure the bot can't be trusted, but that when GME will give the updated numbers of registered shares, there will at least be 2 official data points on this subject... Depending on how high it is (only a minority of outside-of-the-US holders had been able to DRS as of October 30th, not the case anymore), we'll either get an estimation on when a full lock-up of the float would happen, or a new cycle of trying to find the next catalyst ¯\_(ツ)_/¯