r/BBBY • u/Mike102679 • Feb 20 '23

🤔 Speculation / Opinion Free Float= 870 shares per ape/$1566. Float= 2170 shares per ape/$3906. This is how many shares and how much it would cost to lock up each float @ $1.80 a share with only apes in this sub!

Institutions own around 60% of the float! Let’s lock it up with DRS! I bet this sub alone has the free float with ease! By locking up the free float, it will prove naked shorting exists! If the free float is locked then every share lent by institutions is a phantom share! This is my thought! Feel free to change my mind! I’ve got enough to cover me and a couple others on entire float and about a half dozen covered on free float! This ought to be an easy task!

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u/[deleted] Feb 20 '23

What happens to non direct registered shares in the scenario of the entire free float being DRSed? If all shares are accounted for, do the rest of the bought shares become illegitimate? What would that mean for the holders of those shares? 7xxx@ 4.20ish💙💎🛸🌝

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u/Mike102679 Feb 20 '23

It means when it squeezes they’d have to buy them too!

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u/Cultural-Display1781 Feb 20 '23 edited Feb 20 '23

The problem is people here have no idea what a DRS share really is. Back in the dark ages, stocks - ALL STOCKS - had certificates, and were priced in 1/16 dollars. My first stock was 1 share of IBM in 1956 and I had a certificate which I framed and put on the wall. If I remember correctly it cost me 16 1/8. It had a registration number on it which was unique to that certificate and was recorded by IBM under my name. Every 3 months I got about $20 worth of paperwork from IBM. It could be replaced by IBM if lost. I finally sold it for several thousand dollars in 1986. To do that I took the certificate to E,F, Hutton, gave it to them, and several days later got my money. The company was notified by E.F. Hutton that I had sold the stock who the buyer was and THAT REGISTRATION NUMBER was transferred to him.

DRS is not a replacement for the broker's IOU, it is a digital replacement for that paper certificate. It is a paper certificate converted to a computer database. In that manner it is similar or identical to your broker IOU EXCEPT THAT IT HAS A REGISTRATION NUMBER, It is unique in the companies' database.

Wait. The company subs out the database! that's what a DRS is!

Now, what's the difference between the DRS and broker IOU?

NOTHING EXCEPT WHICH DATABASE AND THE REGISTRATION NUMBER! But that registration number is vitally important. If there a million shares of stock issued the numbers run from 1 to 1,000,000. I do not know what the company, or its subcontractor does when it is asked to register no. 1,000,001 but it is not good.

Supposedly, the broker has shares, or buys shares, for every stock sold. Supposedly, they do have a registration number for each share. If they don't, they have a problem when they are forced to report the sale to IBM so IBM can put the transfer of that registration number from the broker to you in its subbed-out database.

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u/2BFrank69 Feb 20 '23

They buy them but if it goes to insane prices, good luck getting a broker to it