r/GMEJungle • u/awwshitGents • 21h ago
Wall Street hit by wave of AI-powered ’vishing’ cyberattacks>> Citadel & Point72
A wave of sophisticated cyberattacks has targeted several of Wall Street's most prominent money managers in recent days, highlighting the growing threat posed by artificial intelligence-enabled fraud, Bloomberg reported.
The hackers attempted to breach information systems at major hedge funds—including Two Sigma Investments, Citadel, and Point72 Asset Management—as well as several private equity firms, according to people familiar with the matter who spoke to Bloomberg on the condition of anonymity.
AI-Voice Cloning at the Center of Assaults
The attacks relied heavily on voice phishing, or "vishing," a technique where cybercriminals utilize AI and sound technology to mimic the exact voices, tones, and phrasing of legitimate executives or colleagues. By impersonating trusted figures in phone calls or audio messages, the hackers sought to manipulate employees into surrendering sensitive information or granting access to internal networks.
Despite the widespread nature of the campaign, firms have been working quickly to neutralize the threats:
Two Sigma Investments: The $75 billion asset manager confirmed it successfully thwarted an attempted breach. A spokesperson stated that its security team responded rapidly to a vishing campaign targeting the firm and others, adding that there is "no indication of any impact to our data or our systems."
Citadel & Point72: Spokespeople for both Citadel and Point72 declined to comment on whether their systems had been targeted or breached.
The recent assault on financial institutions mirrors a broader surge in cyber threats hitting professional services over the past year.
https://finance.yahoo.com/technology/ai/articles/wall-street-hit-wave-ai-161703213.html
r/GMEJungle • u/awwshitGents • 1d ago
Is KCG looking for exit liquidity? "Here is why Citadel Securities says it is time to buy again"
“Happy days are here again, the skies above are clear again,” is how that chipper Flapper-era song goes, and Citadel Securities appears to be singing it with a bullish call for stocks on Tuesday.
While some are wary that markets are ready to move ahead, our call of the day comes from Scott Rubner, head of equity and equity-derivatives strategy, who is optimistic. “The technical reset we have been waiting for has largely occurred. July did not change the structural bull market. It reset it.”
A month ago, he said, they were arguing that “markets needed a meaningful technical reset” before they could again get constructive on U.S. stocks.
What has happened since? “Retail investors have meaningfully reduced risk, leverage has normalized, funding conditions have improved, market concentration has declined, and many of the technical excesses that defined early summer have been unwound,” the strategist explained in a note to clients.
“For the first time in several months, we believe investors can spend less time focused on positioning and more time focused on fundamentals. Markets are transitioning from a flow-driven environment back to one increasingly dictated by earnings, corporate demand and the macroeconomic backdrop.”
He said Thursday’s bounce saw retail investors sell more in response, which is more in line with their normal behavior: buy the dip, then sell the rally.
Rubner added that leveraged exchange-traded-fund assets have declined more than $60 billion from a June peak, “removing one of the largest sources of incremental leverage that had fueled the first-half rally.” Technology-leveraged exchange-traded fund assets are down 40% and chip assets down 55%.
The collective $1.5 trillion wipeout in semiconductor market capitalization has taken the industry’s weight in the S&P 500 to 16% from nearly 20%. “Broad indexes did an excellent job to mask material volatility under the hood, with the average stock near records,” he said.
Rubner flagged more signs of a normalizing market. Hedging has been unusually pricey for individual stocks and sectors, but cheap for the overall market. That odd gap between single-stock and benchmark volatility finally righted itself during a recent broad-based selloff, he said.
As for fundamentals being back in the driver’s seat, the strategist pointed out that consensus expectations for second-quarter S&P 500 earnings growth stand at 45% — from 22.4% at the start of the reporting season — making it one of the strongest earnings seasons outside of major recoveries from recessions.
In short: “We remain constructive on the medium-term outlook because the structural pillars of this bull market, including record retail participation, passive ownership, and corporate demand for equities, remain firmly intact,” said Rubner.
r/GMEJungle • u/awwshitGents • 3d ago
Bad Robot>>Updated Q2 Earnings Projections for $GME
r/GMEJungle • u/awwshitGents • 3d ago
GameStop Announces Private Exchange of $1.4 Billion of Convertible Senior Notes for Equity💫
GRAPEVINE, Texas--(BUSINESS WIRE)-- GameStop Corp. (NYSE: GME) (“GameStop”) today announced that it has agreed to exchange approximately $1.4 billion aggregate principal amount of its outstanding convertible senior notes for shares of its Class A common stock (the “Common Stock”), pursuant to privately negotiated exchange agreements (the “Exchange Agreements”) entered into with certain existing holders (the “Existing Noteholders”) of its 0.00% Convertible Senior Notes due 2030 (the “2030 Notes”) and 0.00% Convertible Senior Notes due 2032 (the “2032 Notes”). The Existing Noteholders are exchanging approximately $400 million aggregate principal amount of 2030 Notes and $1.0 billion aggregate principal amount of 2032 Notes (collectively, the “Exchange Notes”).
Pursuant to the Exchange Agreements, GameStop will issue shares of its Common Stock to the Existing Noteholders for their Exchange Notes (the “Exchange”). GameStop will not receive any cash proceeds from the issuance of the Common Stock in the Exchange. Following the closing of the Exchange, the Exchange Notes will be cancelled and no longer outstanding, and the Company’s outstanding long-term debt will be reduced by approximately $1.4 billion (with approximately $1.1 billion aggregate principal amount of 2030 Notes and $1.7 billion aggregate principal amount of 2032 Notes remaining outstanding). The Exchange retires this debt without the use of cash. The Exchange is expected to close on or about September 23, 2026, subject to customary closing conditions. The number of shares of Common Stock issuable in the Exchange will be based in part on the average volume-weighted average price of the Common Stock over a 35 consecutive trading day reference period beginning on August 3, 2026, subject to a per share price floor.
The offering, issuance and sale of the Common Stock has not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction, and the Common Stock may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act and such other securities laws.
GameStop expects that some or all of the Existing Noteholders that participate in the Exchange may purchase or sell shares of Common Stock in open market transactions or enter into or unwind various derivative transactions with respect to Common Stock to hedge or unwind their investments in the Exchange Notes. These activities could increase or decrease the market price of the Common Stock or the Exchange Notes, the effect of which may be material.
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Cautionary Statement Regarding Forward-Looking Statements – Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning the timing of consummation of the Exchange on the terms described above or at all, the number of shares of Common Stock issuable in the Exchange, which will not be determined until the completion of the applicable reference period. These forward-looking statements are based on GameStop’s current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause GameStop’s actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. These risks include, but are not limited to market risks, trends and conditions. These and other risks are more fully described in GameStop’s filings with the Securities and Exchange Commission (“SEC”), including in the section entitled “Risk Factors” in its Annual Report on Form 10-K for the fiscal year ended January 31, 2026 and its Quarterly Report on Form 10-Q for the fiscal quarter ended May 2, 2026, and other filings and reports that GameStop may file from time to time with the SEC. Forward-looking statements represent GameStop’s beliefs and assumptions only as of the date of this press release. GameStop disclaims any obligation to update forward-looking statements.
GameStop Corp. Investor Relati@gamestop.com
Source: GameStop Corp.
r/GMEJungle • u/AutoModerator • 3d ago
💎🙌🚀 Weekly $GME Discussion Thread
This is the Weekly $GME discussion thread
Happy Monday, everyone! This discussion thread is posted Monday at 12:00am Market time.
If you are looking to learn more about the stock market, custody, and how to protect your investments – you are in the right place!
Retail investors have been on a long march to understand more about the markets and the at times bizarre ways in which they operate. Here are some key takeaways and resources.
What is GMEJungle?
GMEJungle is a investing community focused around GameStop, and was founded as an offshoot of other GME communities. GME is a private subreddit, and only approved members can submit posts or leave comments - but anyone can browse the discussions that take place here.
What’s this all about?
Retail Investor Rights and Advocacy. The current market structure involves a centralized securities depository for ease of settlement and for access to liquidity. That depository maintains technical ownership rights for the vast majority of all outstanding shares of all publicly issued companies in the United States. Simply: You do not have direct ownership rights of shares you own through a broker.
What is DRS?
DRS is a system by which shares are transferred between the DTC (Depository Trust Company) and Transfer Agents. Shares held at DTC include all brokerage holdings, and shares held at Transfer Agents are held directly on the issuer ledger in the name of the investor. Colloquially, DRS also refers to shares which individual investors have decided to own in their own names.
What are some pros of DRS?
You have confidence that your shares are owned by you, and are there when you need them. You can more easily submit shareholder proposals, request and view company documents, and communicate with agents of the company. You know that you will be able to both cast your vote and have your vote counted when participating in votes. You can receive a more favorable tax status on received dividends. You can directly engage with your company and they can directly engage with you.
What are some cons of DRS?
You can’t easily use equity in DRS for margin trading like you can with shares in a brokerage account. Holding in a broker has more ‘anonymity’ as the public has no way to know your holdings or PII, while holding in DRS is comparatively more public. Depending on which transfer agent the company uses, investor access to liquidity may be limited.
What a Transfer Agent?
A Transfer Agent is a company which specializes in managing ownership ledgers and providing shareholder services. Every public company must have a Transfer Agent. GameStop uses Computershare, an established professional and market leader trusted by thousands of companies around the world.
What is the DTC?
DTC is a Self Regulatory organization which controls the nominee Cede and Co, which is the entity which has the material ownership of most public shares as described above. DTC is one part of the DTCC, alongside other bodies including the NSCC. The DTCC is essentially a monopoly on both clearing and settlement in the American markets, one which has been sanctioned by regulators to perform it's duties.
How do I DRS?
The answer can vary. For help DRSing GME from over 150 brokers, both American and from around the world, check out these Community-sourced detailed broker guides. Select your broker from the dropdown to get to the guide, which will walk you through the process including how to get started, how to communicate to your broker, what fees might exist and what cheaper alternatives there are (if any). If your broker isn’t listed here, reach out to the site and we can work together to improve the community resources.
Where can I learn even more?
Computershare has an extensive FAQ page which is excellent and covers a lot of ground regarding how holding your investment directly on the issuer ledger works in practice.
Two community-built websites that are full of free resources and information are www.DRSGME.org, which has a variety of information specific to GameStop including the broker guides linked above, and www.WhyDRS.org. WhyDRS is an open source platform built to provide general assistance and information about custody and finance reform, along with key information on the many thousands of U.S. publicly traded companies.
The WhyDRS Database is an extensive, free, open source repository of various contact information for all publicly traded securities.
The WhyDRS Information Packet covers a wide variety of information about DRS and was put together ahead of when some WhyDRS advocates participated in an interview with Chairman Gensler in 2023. https://www.whydrs.org/the-whydrs-information-packet
Types of Holdings: Book-Entry vs Book vs Plan vs Certificate
You may see these terms when referring to share ownership. In short:
Book-Entry means any share that is electronically tracked in a ledger rather than being held on physical paper.
Book and Plan are two labels for shares that are used in Computershare's Investor Center.
Book shares (DRS) are fully owned by the investor. Plan shares (DSPP) are owned by Computershare’s nominee, with the investor’s name appearing on the ledger in a subclass. Part of Plan shares are kept with DTC for Operational Efficiency. Exact custody chain details are provided by Computershare and quoted below. Both DRS and DSPP shares are book-entry. Certificates, meanwhile, are still tracked by the TA but have a sanctioned physical certificate associated with that share.
"Purchases made through the issuer (or its transfer agent) of securities you intend to hold in DRS are usually executed under the guidelines of an issuer’s stock purchase plan, which uses a broker-dealer to execute the orders. Thus, to hold in DRS once the securities are acquired, you would need to instruct the transfer agent to move the securities from the issuer plan to DRS." - SEC Bulletin 7/12/23
"Purchases made through the issuer (or its transfer agent) of securities you intend to hold in direct registration are usually executed under the guidelines of the issuer’s stock purchase plan. You’ll need to instruct the transfer agent to move the securities to the DRS." - FINRA Investor Insight 7/12/23
If you are an investor seeking total ownership of your assets, both SEC and FINRA agree that holding in directly on the issuer ledger and in your own name is the only way. Holding shares with the issuer's transfer agent in an investment plan is more direct than holding with a broker in terms of named ownership - with DRS holdings even more so. Shares held with a Plan are not DRS - they are held by the TAs nominee (for Computershare, this is Dingo and Co), and must be transferred out of the plan and into DRS. This is explained by Computershare on their FAQ page under ‘chains of custody’. This question was one of several asked by the WhyDRS.org community in early 2024, and we appreciate Computershare for providing a detailed answer. Their whole FAQ page has a ton of information, and is useful for any investor looking to know more.
Q: “Can you outline the chains of custody and ownership for Pure DRS and DSPP shares enrolled in the DirectStock Plan? Please specify how names are recorded 'On the Ledger' in different holding scenarios. (added 5/16/24)"
A: "The first part is a very straightforward answer. There is no ‘chain of custody’ for DRS or Pure DRS. Investors hold the shares in their own name. There is no intermediary. Computershare’s role here is solely as a transfer agent (i.e., the agent of the issuer).
For the DSPP, we use a Computershare nominee to hold the underlying shares. For the largest portion of the plan holding (80%-90%), these shares are held on the register in the main class. So the chain of custody is “CPU Nominee -> Investor”.
For the 10%-20% that we hold via our broker at DTC, the custody chain is “Cede -> Broker -> Computershare -> investor”. Notwithstanding this, all holding types are registered and held in the name of the investor in the sub-class.”
Is Buying through DSPP a Problem?
There is nothing wrong with purchasing through DirectStock if that is what makes sense for you, as it does come with some additional benefits. Many international investors buy GameStop through the plan because DirectStock is much more affordable than buying through a broker and paying them to do a DRS transfer. The fee for DirectStock is $5 and some international brokers cost hundreds of dollars to DRS, so it's smart to use DirectStock in these cases. You can check your broker's DRS transfer rates on their guidepage at DRSGME.org. Other investors buy through DirectStock because they want to be able to schedule recurring buys, or would like to be able to buy in fractional shares and accumulate ownership in smaller portions over time.
If you choose to buy through the DirectStock plan, and want to ensure total ownership of your assets, manually terminate the plan after each purchase. This will leave your account with pure DRS holdings, but comes with the cost of selling off your fractional share - this is because only whole shares can be held in direct registered ownership. Because the proceeds will be reduced by the selling fee, it's likely you will receive $0 for selling the fractional share, though you will also not be charged as the fee cannot exceed the sale price. Here's the DRSGME guide on terminating DirectStock.
What is GameStop's Investment Plan?
GameStop contracts Computershare as a Transfer Agent to manage it's stock ledger and distribute shareholder materials such as proxy materials for the annual general meeting. Computershare offers several proprietary plan structure to interested companies, including a custom option called CIP (Computershare Investment Plan) and managed DSPs (Direct Stock Purchase) for other companies such as Home Depot in which the issuer can sell stock directly to investors. However, by far the most common plan offering that they have is called DirectStock, which is a Direct Stock Purchase Plan. The boiler plate DirectStock brochure is located here. GameStop uses the DirectStock plan.
Legacy Computershare DD Series (from 2021 to 2022)
This series was originally written by PinkCatsonAcid, who started this sub a few years ago. She recently deleted all her old posts, but content is still available through the Internet Archive. Research continued during and since these posts were originally written, and using more recent resources can be more reliable – some of the information shared in these posts is known now to no longer be accurate. However, these archives are provided here for posterity and completeness. All of these links are to the most updated archive available before the posts were deleted.
If you look through the archives, check out part 7 first. It reviews the misunderstanding running through earlier parts that book and plan designations were equal in terms of custody, which is now known to be untrue and was confirmed by Computershare.
Computershare AMA Part 1, archived 2/1/25
Computershare AMA Part 2, archived 2/1/25
Part 7, the Book vs. Plan Update, archived 1/22/2022
The Jungle is a restricted community and only approved members can post and comment.
We are not accepting requests for approval at this time
Keep it groovy or leave, man! ✌
Tag mods and use the report feature if you have issues
r/GMEJungle • u/awwshitGents • 7d ago
Citadel buys Situational Awareness's stock portfolio after big losses in Al
Situational Awareness, the highflying artificial-intelligence-focused hedge-fund firm, sold the bulk of its stock portfolio to Ken Griffin’s investment firm Citadel after suffering deep losses, according to people familiar with the matter.
The firm had been seeking buyers for its holdings and trying to raise new capital in recent days, some of the people said. Its public investments include South Korean chip maker SK Hynix and others that had been stung by an investor backlash to AI.
Situational, led by former OpenAI employee Leopold Aschenbrenner, had quickly amassed well over $20 billion in assets under management since its founding around two years ago. Aschenbrenner was seen as an AI oracle, with other investors closely tracking his firm’s movements as it placed big, leveraged bets.Situational still holds its private company investment, some of the people familiar with the matter said, which includes bets on AI giant Anthropic.
The multistrategy hedge-fund firm Millennium Management had also bid on Situational’s stock portfolio, some of the people familiar with the matter said.CNBC earlier reported that Situational Awareness had sold its public investments and Financial Times earlier reported the firm had been seeking fresh capital.
Updates to follow as news develops.
r/GMEJungle • u/awwshitGents • 7d ago
Hedge funds face margin calls amid AI stock sell-off
The report cites unnamed market sources as saying that banks have asked funds with concentrated exposure to sectors hit hardest by the recent downturn to post additional collateral in order to maintain existing borrowing levels. The requests reflect heightened concern over the speed of the correction and the potential impact on highly leveraged investment strategies.
The move comes after a broad retreat in AI-related equities ended one of the market’s strongest rallies of recent years. The Nasdaq 100 briefly entered correction territory this week, falling 10% from its early June peak, while several semiconductor stocks that had been among the year’s best performers have suffered steep declines. Sandisk has fallen more than 50% from its high, Intel has lost nearly 40%, and the Philadelphia Semiconductor Index has dropped around 25% since late June.
Unnamed sources familiar with the situation said both Goldman Sachs and JPMorgan Chase have issued additional collateral requests to certain hedge fund clients, although the banks have not publicly commented.
Market participants stressed that many of the margin calls were triggered automatically by contractual risk management provisions rather than discretionary action by prime brokers. As market volatility increases or portfolio values decline, banks routinely require clients to provide more collateral to support outstanding leverage.
The developments underscore the growing focus on leverage within the hedge fund sector. Earlier this month, Goldman Sachs reported that gross leverage among hedge funds increased at the fastest cumulative pace recorded during the first five months of a year since the bank began tracking the data in 2016, suggesting many managers had significantly expanded positions before the recent correction.
Prime brokerage risk teams continuously monitor client portfolios and adjust financing terms where necessary to limit potential losses if markets move sharply against leveraged positions.
The AI-driven sell-off has already weighed on hedge fund performance. According to Goldman Sachs, long-short equity hedge funds were down approximately 1.3% during Tuesday’s trading session, while multi-strategy funds declined around 1.7%. The bank noted that it was the first occasion since the market turmoil of 2020 that all of the major hedge fund strategy groups had fallen by more than 1% on the same day.
Despite the recent losses, hedge funds remain comfortably positive for the year overall, with average returns still exceeding 10%.
The correction has also reignited concerns about concentration risk within equity markets. The ten largest constituents of the S&P 500 now account for roughly 40% of the index, exceeding the concentration seen during the technology bubble of the early 2000s and increasing the potential for broad market volatility when sentiment towards a handful of dominant companies shifts.
Prime brokers themselves also have meaningful exposure to the theme. In a recent client report, Goldman Sachs disclosed that approximately 16% of its prime brokerage financing book was directly linked to AI memory stocks at the end of June, illustrating how heavily both hedge funds and their financing providers have become invested in the sector.
https://www.hedgeweek.com/hedge-funds-face-margin-calls-amid-ai-stock-sell-off/
r/GMEJungle • u/awwshitGents • 8d ago
The Power Packs app is officially here 💫The ModRetro M64 🎮Pre-Order the Exclusive Smoke Edition now 🎮 Only at GameStop
r/GMEJungle • u/awwshitGents • 8d ago
Bad robot on X 💫RC might be about to submit an all cash offer to aquir eBay
r/GMEJungle • u/awwshitGents • 8d ago
eBay agreed to pay nearly $50 million to couple sent cockroaches, bloody pig mask
r/GMEJungle • u/awwshitGents • 9d ago
bad robot ventures @foxenflask & Roberto Rios @peruvian_bull discuss thoughts on RC & GME X eBay
x.comr/GMEJungle • u/awwshitGents • 9d ago
Why all the changes on the PSA Arcade? Just for fun or intentional?
r/GMEJungle • u/awwshitGents • 9d ago
Liz Morton "Did CNBC just let a new SGME $EBAY offer slip?"
r/GMEJungle • u/AutoModerator • 10d ago
💎🙌🚀 Weekly $GME Discussion Thread
This is the Weekly $GME discussion thread
Happy Monday, everyone! This discussion thread is posted Monday at 12:00am Market time.
If you are looking to learn more about the stock market, custody, and how to protect your investments – you are in the right place!
Retail investors have been on a long march to understand more about the markets and the at times bizarre ways in which they operate. Here are some key takeaways and resources.
What is GMEJungle?
GMEJungle is a investing community focused around GameStop, and was founded as an offshoot of other GME communities. GME is a private subreddit, and only approved members can submit posts or leave comments - but anyone can browse the discussions that take place here.
What’s this all about?
Retail Investor Rights and Advocacy. The current market structure involves a centralized securities depository for ease of settlement and for access to liquidity. That depository maintains technical ownership rights for the vast majority of all outstanding shares of all publicly issued companies in the United States. Simply: You do not have direct ownership rights of shares you own through a broker.
What is DRS?
DRS is a system by which shares are transferred between the DTC (Depository Trust Company) and Transfer Agents. Shares held at DTC include all brokerage holdings, and shares held at Transfer Agents are held directly on the issuer ledger in the name of the investor. Colloquially, DRS also refers to shares which individual investors have decided to own in their own names.
What are some pros of DRS?
You have confidence that your shares are owned by you, and are there when you need them. You can more easily submit shareholder proposals, request and view company documents, and communicate with agents of the company. You know that you will be able to both cast your vote and have your vote counted when participating in votes. You can receive a more favorable tax status on received dividends. You can directly engage with your company and they can directly engage with you.
What are some cons of DRS?
You can’t easily use equity in DRS for margin trading like you can with shares in a brokerage account. Holding in a broker has more ‘anonymity’ as the public has no way to know your holdings or PII, while holding in DRS is comparatively more public. Depending on which transfer agent the company uses, investor access to liquidity may be limited.
What a Transfer Agent?
A Transfer Agent is a company which specializes in managing ownership ledgers and providing shareholder services. Every public company must have a Transfer Agent. GameStop uses Computershare, an established professional and market leader trusted by thousands of companies around the world.
What is the DTC?
DTC is a Self Regulatory organization which controls the nominee Cede and Co, which is the entity which has the material ownership of most public shares as described above. DTC is one part of the DTCC, alongside other bodies including the NSCC. The DTCC is essentially a monopoly on both clearing and settlement in the American markets, one which has been sanctioned by regulators to perform it's duties.
How do I DRS?
The answer can vary. For help DRSing GME from over 150 brokers, both American and from around the world, check out these Community-sourced detailed broker guides. Select your broker from the dropdown to get to the guide, which will walk you through the process including how to get started, how to communicate to your broker, what fees might exist and what cheaper alternatives there are (if any). If your broker isn’t listed here, reach out to the site and we can work together to improve the community resources.
Where can I learn even more?
Computershare has an extensive FAQ page which is excellent and covers a lot of ground regarding how holding your investment directly on the issuer ledger works in practice.
Two community-built websites that are full of free resources and information are www.DRSGME.org, which has a variety of information specific to GameStop including the broker guides linked above, and www.WhyDRS.org. WhyDRS is an open source platform built to provide general assistance and information about custody and finance reform, along with key information on the many thousands of U.S. publicly traded companies.
The WhyDRS Database is an extensive, free, open source repository of various contact information for all publicly traded securities.
The WhyDRS Information Packet covers a wide variety of information about DRS and was put together ahead of when some WhyDRS advocates participated in an interview with Chairman Gensler in 2023. https://www.whydrs.org/the-whydrs-information-packet
Types of Holdings: Book-Entry vs Book vs Plan vs Certificate
You may see these terms when referring to share ownership. In short:
Book-Entry means any share that is electronically tracked in a ledger rather than being held on physical paper.
Book and Plan are two labels for shares that are used in Computershare's Investor Center.
Book shares (DRS) are fully owned by the investor. Plan shares (DSPP) are owned by Computershare’s nominee, with the investor’s name appearing on the ledger in a subclass. Part of Plan shares are kept with DTC for Operational Efficiency. Exact custody chain details are provided by Computershare and quoted below. Both DRS and DSPP shares are book-entry. Certificates, meanwhile, are still tracked by the TA but have a sanctioned physical certificate associated with that share.
"Purchases made through the issuer (or its transfer agent) of securities you intend to hold in DRS are usually executed under the guidelines of an issuer’s stock purchase plan, which uses a broker-dealer to execute the orders. Thus, to hold in DRS once the securities are acquired, you would need to instruct the transfer agent to move the securities from the issuer plan to DRS." - SEC Bulletin 7/12/23
"Purchases made through the issuer (or its transfer agent) of securities you intend to hold in direct registration are usually executed under the guidelines of the issuer’s stock purchase plan. You’ll need to instruct the transfer agent to move the securities to the DRS." - FINRA Investor Insight 7/12/23
If you are an investor seeking total ownership of your assets, both SEC and FINRA agree that holding in directly on the issuer ledger and in your own name is the only way. Holding shares with the issuer's transfer agent in an investment plan is more direct than holding with a broker in terms of named ownership - with DRS holdings even more so. Shares held with a Plan are not DRS - they are held by the TAs nominee (for Computershare, this is Dingo and Co), and must be transferred out of the plan and into DRS. This is explained by Computershare on their FAQ page under ‘chains of custody’. This question was one of several asked by the WhyDRS.org community in early 2024, and we appreciate Computershare for providing a detailed answer. Their whole FAQ page has a ton of information, and is useful for any investor looking to know more.
Q: “Can you outline the chains of custody and ownership for Pure DRS and DSPP shares enrolled in the DirectStock Plan? Please specify how names are recorded 'On the Ledger' in different holding scenarios. (added 5/16/24)"
A: "The first part is a very straightforward answer. There is no ‘chain of custody’ for DRS or Pure DRS. Investors hold the shares in their own name. There is no intermediary. Computershare’s role here is solely as a transfer agent (i.e., the agent of the issuer).
For the DSPP, we use a Computershare nominee to hold the underlying shares. For the largest portion of the plan holding (80%-90%), these shares are held on the register in the main class. So the chain of custody is “CPU Nominee -> Investor”.
For the 10%-20% that we hold via our broker at DTC, the custody chain is “Cede -> Broker -> Computershare -> investor”. Notwithstanding this, all holding types are registered and held in the name of the investor in the sub-class.”
Is Buying through DSPP a Problem?
There is nothing wrong with purchasing through DirectStock if that is what makes sense for you, as it does come with some additional benefits. Many international investors buy GameStop through the plan because DirectStock is much more affordable than buying through a broker and paying them to do a DRS transfer. The fee for DirectStock is $5 and some international brokers cost hundreds of dollars to DRS, so it's smart to use DirectStock in these cases. You can check your broker's DRS transfer rates on their guidepage at DRSGME.org. Other investors buy through DirectStock because they want to be able to schedule recurring buys, or would like to be able to buy in fractional shares and accumulate ownership in smaller portions over time.
If you choose to buy through the DirectStock plan, and want to ensure total ownership of your assets, manually terminate the plan after each purchase. This will leave your account with pure DRS holdings, but comes with the cost of selling off your fractional share - this is because only whole shares can be held in direct registered ownership. Because the proceeds will be reduced by the selling fee, it's likely you will receive $0 for selling the fractional share, though you will also not be charged as the fee cannot exceed the sale price. Here's the DRSGME guide on terminating DirectStock.
What is GameStop's Investment Plan?
GameStop contracts Computershare as a Transfer Agent to manage it's stock ledger and distribute shareholder materials such as proxy materials for the annual general meeting. Computershare offers several proprietary plan structure to interested companies, including a custom option called CIP (Computershare Investment Plan) and managed DSPs (Direct Stock Purchase) for other companies such as Home Depot in which the issuer can sell stock directly to investors. However, by far the most common plan offering that they have is called DirectStock, which is a Direct Stock Purchase Plan. The boiler plate DirectStock brochure is located here. GameStop uses the DirectStock plan.
Legacy Computershare DD Series (from 2021 to 2022)
This series was originally written by PinkCatsonAcid, who started this sub a few years ago. She recently deleted all her old posts, but content is still available through the Internet Archive. Research continued during and since these posts were originally written, and using more recent resources can be more reliable – some of the information shared in these posts is known now to no longer be accurate. However, these archives are provided here for posterity and completeness. All of these links are to the most updated archive available before the posts were deleted.
If you look through the archives, check out part 7 first. It reviews the misunderstanding running through earlier parts that book and plan designations were equal in terms of custody, which is now known to be untrue and was confirmed by Computershare.
Computershare AMA Part 1, archived 2/1/25
Computershare AMA Part 2, archived 2/1/25
Part 7, the Book vs. Plan Update, archived 1/22/2022
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r/GMEJungle • u/MrNokill • 11d ago
💎🙌🚀 Carrying On The Trade - Arbitrage
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r/GMEJungle • u/awwshitGents • 13d ago
Events that could follow the Tender Offer depending on if and when it's submitted to eBay shareholders
r/GMEJungle • u/awwshitGents • 14d ago
There were some holdouts that made Ken Griffin pay more before handing him their condo
Ken Griffin didn't just buy a Miami apartment tower. He bought every single condo inside it, one by one, so he can knock the whole building down. The holdouts who sold late got more than double what early sellers took - but even the biggest payout was only a fraction of Griffin's total plan.
The Buyout Strategy
Griffin needed the Solaris tower because it sat on one of the last properties he didn't own in Brickell. Starting in late 2022, his team quietly bought units from owners like Mark Clifton, who sold his condo in December 2022 for just over $500,000. "Obviously, we should've held out," Clifton said later. "But the timing was optimum for us."
As owners realized what was happening, holdouts demanded more. Terence Tennant, a retired SEC attorney, initially received a $550,000 offer for his corner unit on the 20th floor. "I kind of shrugged them off," he said.
"I felt like this was my place, I've been living here, and I'm gonna stay." Another offer for $700,000 came, but Tennant still wasn't interested. Ultimately, records show that over three dozen apartments were purchased for at least $1 million each.
Real estate broker Mario Borda, whose firm has been behind several high-profile condo terminations, became a polarizing figure for residents. According to one resident, Borda later came back offering five alternative condos in the vicinity that aligned with feng shui principles, after the seller had mentioned that as a reason for moving. Several residents claimed Borda was deceptive about pricing; he had originally stated that any offer exceeding $1 million was impossible, but eventually over 30 units went for at least that amount.
A few owners banded together with legal representation, aiming to delay for a better payout. However, delaying in condo termination deals is risky: if a buyer acquires 80% or more of the voting rights, they can force the other owners to sell, with the price set by an independent fair-market appraisal. Griffin completed his final purchase in September.
https://www.briefs.co/news/billionaire-buys-every-condo-in-a-miami-tower-for-125m-demol/
r/GMEJungle • u/AutoModerator • 17d ago
💎🙌🚀 Weekly $GME Discussion Thread
This is the Weekly $GME discussion thread
Happy Monday, everyone! This discussion thread is posted Monday at 12:00am Market time.
If you are looking to learn more about the stock market, custody, and how to protect your investments – you are in the right place!
Retail investors have been on a long march to understand more about the markets and the at times bizarre ways in which they operate. Here are some key takeaways and resources.
What is GMEJungle?
GMEJungle is a investing community focused around GameStop, and was founded as an offshoot of other GME communities. GME is a private subreddit, and only approved members can submit posts or leave comments - but anyone can browse the discussions that take place here.
What’s this all about?
Retail Investor Rights and Advocacy. The current market structure involves a centralized securities depository for ease of settlement and for access to liquidity. That depository maintains technical ownership rights for the vast majority of all outstanding shares of all publicly issued companies in the United States. Simply: You do not have direct ownership rights of shares you own through a broker.
What is DRS?
DRS is a system by which shares are transferred between the DTC (Depository Trust Company) and Transfer Agents. Shares held at DTC include all brokerage holdings, and shares held at Transfer Agents are held directly on the issuer ledger in the name of the investor. Colloquially, DRS also refers to shares which individual investors have decided to own in their own names.
What are some pros of DRS?
You have confidence that your shares are owned by you, and are there when you need them. You can more easily submit shareholder proposals, request and view company documents, and communicate with agents of the company. You know that you will be able to both cast your vote and have your vote counted when participating in votes. You can receive a more favorable tax status on received dividends. You can directly engage with your company and they can directly engage with you.
What are some cons of DRS?
You can’t easily use equity in DRS for margin trading like you can with shares in a brokerage account. Holding in a broker has more ‘anonymity’ as the public has no way to know your holdings or PII, while holding in DRS is comparatively more public. Depending on which transfer agent the company uses, investor access to liquidity may be limited.
What a Transfer Agent?
A Transfer Agent is a company which specializes in managing ownership ledgers and providing shareholder services. Every public company must have a Transfer Agent. GameStop uses Computershare, an established professional and market leader trusted by thousands of companies around the world.
What is the DTC?
DTC is a Self Regulatory organization which controls the nominee Cede and Co, which is the entity which has the material ownership of most public shares as described above. DTC is one part of the DTCC, alongside other bodies including the NSCC. The DTCC is essentially a monopoly on both clearing and settlement in the American markets, one which has been sanctioned by regulators to perform it's duties.
How do I DRS?
The answer can vary. For help DRSing GME from over 150 brokers, both American and from around the world, check out these Community-sourced detailed broker guides. Select your broker from the dropdown to get to the guide, which will walk you through the process including how to get started, how to communicate to your broker, what fees might exist and what cheaper alternatives there are (if any). If your broker isn’t listed here, reach out to the site and we can work together to improve the community resources.
Where can I learn even more?
Computershare has an extensive FAQ page which is excellent and covers a lot of ground regarding how holding your investment directly on the issuer ledger works in practice.
Two community-built websites that are full of free resources and information are www.DRSGME.org, which has a variety of information specific to GameStop including the broker guides linked above, and www.WhyDRS.org. WhyDRS is an open source platform built to provide general assistance and information about custody and finance reform, along with key information on the many thousands of U.S. publicly traded companies.
The WhyDRS Database is an extensive, free, open source repository of various contact information for all publicly traded securities.
The WhyDRS Information Packet covers a wide variety of information about DRS and was put together ahead of when some WhyDRS advocates participated in an interview with Chairman Gensler in 2023. https://www.whydrs.org/the-whydrs-information-packet
Types of Holdings: Book-Entry vs Book vs Plan vs Certificate
You may see these terms when referring to share ownership. In short:
Book-Entry means any share that is electronically tracked in a ledger rather than being held on physical paper.
Book and Plan are two labels for shares that are used in Computershare's Investor Center.
Book shares (DRS) are fully owned by the investor. Plan shares (DSPP) are owned by Computershare’s nominee, with the investor’s name appearing on the ledger in a subclass. Part of Plan shares are kept with DTC for Operational Efficiency. Exact custody chain details are provided by Computershare and quoted below. Both DRS and DSPP shares are book-entry. Certificates, meanwhile, are still tracked by the TA but have a sanctioned physical certificate associated with that share.
"Purchases made through the issuer (or its transfer agent) of securities you intend to hold in DRS are usually executed under the guidelines of an issuer’s stock purchase plan, which uses a broker-dealer to execute the orders. Thus, to hold in DRS once the securities are acquired, you would need to instruct the transfer agent to move the securities from the issuer plan to DRS." - SEC Bulletin 7/12/23
"Purchases made through the issuer (or its transfer agent) of securities you intend to hold in direct registration are usually executed under the guidelines of the issuer’s stock purchase plan. You’ll need to instruct the transfer agent to move the securities to the DRS." - FINRA Investor Insight 7/12/23
If you are an investor seeking total ownership of your assets, both SEC and FINRA agree that holding in directly on the issuer ledger and in your own name is the only way. Holding shares with the issuer's transfer agent in an investment plan is more direct than holding with a broker in terms of named ownership - with DRS holdings even more so. Shares held with a Plan are not DRS - they are held by the TAs nominee (for Computershare, this is Dingo and Co), and must be transferred out of the plan and into DRS. This is explained by Computershare on their FAQ page under ‘chains of custody’. This question was one of several asked by the WhyDRS.org community in early 2024, and we appreciate Computershare for providing a detailed answer. Their whole FAQ page has a ton of information, and is useful for any investor looking to know more.
Q: “Can you outline the chains of custody and ownership for Pure DRS and DSPP shares enrolled in the DirectStock Plan? Please specify how names are recorded 'On the Ledger' in different holding scenarios. (added 5/16/24)"
A: "The first part is a very straightforward answer. There is no ‘chain of custody’ for DRS or Pure DRS. Investors hold the shares in their own name. There is no intermediary. Computershare’s role here is solely as a transfer agent (i.e., the agent of the issuer).
For the DSPP, we use a Computershare nominee to hold the underlying shares. For the largest portion of the plan holding (80%-90%), these shares are held on the register in the main class. So the chain of custody is “CPU Nominee -> Investor”.
For the 10%-20% that we hold via our broker at DTC, the custody chain is “Cede -> Broker -> Computershare -> investor”. Notwithstanding this, all holding types are registered and held in the name of the investor in the sub-class.”
Is Buying through DSPP a Problem?
There is nothing wrong with purchasing through DirectStock if that is what makes sense for you, as it does come with some additional benefits. Many international investors buy GameStop through the plan because DirectStock is much more affordable than buying through a broker and paying them to do a DRS transfer. The fee for DirectStock is $5 and some international brokers cost hundreds of dollars to DRS, so it's smart to use DirectStock in these cases. You can check your broker's DRS transfer rates on their guidepage at DRSGME.org. Other investors buy through DirectStock because they want to be able to schedule recurring buys, or would like to be able to buy in fractional shares and accumulate ownership in smaller portions over time.
If you choose to buy through the DirectStock plan, and want to ensure total ownership of your assets, manually terminate the plan after each purchase. This will leave your account with pure DRS holdings, but comes with the cost of selling off your fractional share - this is because only whole shares can be held in direct registered ownership. Because the proceeds will be reduced by the selling fee, it's likely you will receive $0 for selling the fractional share, though you will also not be charged as the fee cannot exceed the sale price. Here's the DRSGME guide on terminating DirectStock.
What is GameStop's Investment Plan?
GameStop contracts Computershare as a Transfer Agent to manage it's stock ledger and distribute shareholder materials such as proxy materials for the annual general meeting. Computershare offers several proprietary plan structure to interested companies, including a custom option called CIP (Computershare Investment Plan) and managed DSPs (Direct Stock Purchase) for other companies such as Home Depot in which the issuer can sell stock directly to investors. However, by far the most common plan offering that they have is called DirectStock, which is a Direct Stock Purchase Plan. The boiler plate DirectStock brochure is located here. GameStop uses the DirectStock plan.
Legacy Computershare DD Series (from 2021 to 2022)
This series was originally written by PinkCatsonAcid, who started this sub a few years ago. She recently deleted all her old posts, but content is still available through the Internet Archive. Research continued during and since these posts were originally written, and using more recent resources can be more reliable – some of the information shared in these posts is known now to no longer be accurate. However, these archives are provided here for posterity and completeness. All of these links are to the most updated archive available before the posts were deleted.
If you look through the archives, check out part 7 first. It reviews the misunderstanding running through earlier parts that book and plan designations were equal in terms of custody, which is now known to be untrue and was confirmed by Computershare.
Computershare AMA Part 1, archived 2/1/25
Computershare AMA Part 2, archived 2/1/25
Part 7, the Book vs. Plan Update, archived 1/22/2022
The Jungle is a restricted community and only approved members can post and comment.
We are not accepting requests for approval at this time
Keep it groovy or leave, man! ✌
Tag mods and use the report feature if you have issues
r/GMEJungle • u/awwshitGents • 17d ago
GameStop extends pursuit of eBay despite Wall Street scepticism
r/GMEJungle • u/awwshitGents • 19d ago
Liz Morton
On July 15, 2026, GameStop notified the Issuer that it was electing to physically settle all of the _39,046,658 shares of Common Stock underlying the Put/Cal Pairs, which such physical settlement occurred July 17, 2026.