https://news.gamestop.com/stock-split/?n
Gamestop has made a public announcement addressing the on going chaos from the 4 for 1 stock split via dividend it issued.
Many international shareholders(Germany, Korean, Canadian, etc) have documented their brokerages were told by the DTC to do a regular forward split and not a split via dividend.
Gamestop and their transfer agent Computershare have confirmed the appropriate allotment of new dividend shares were given out GS -> CS -> DTC -> Brokerages
But it appears the DTC kept the shares they were provided for themselves and intentionally misled brokers, thereby making them liable for millions of shares at a time when 50%+ of Gamestops free float has been locked up by Direct Registration and liquidity is bone dry
Regardless of your opinion on GS fundamentals, this seems like an unprecedented situation with international trust in US financial markets on the line
In full disclosure, I am a 100% DRSed shareholder of GS
Would love to hear everyones opinions on these events as they develop, for something so major news and media has been very quiet
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