As a seasoned investor with a knack for spotting trends and a penchant for riding the GameStop rollercoaster, today’s Q2 2024 earnings report has once again piqued my interest. The decrease in directly registered shares (DRS) at GameStop, down by 1.8 million from Q1 2024, is a curious development that might hint at some strategic maneuvering behind the scenes.
In Q2 2024, GameStop announced their earnings, revealing a reduction in the quantity of shares registered directly with them (DRS). Initially, there were approximately 72.8 million shares kept by their transfer agent.
Here’s an excerpt from Gamestop’s Q2 2024 Form 10-Q:
Come September 4th, 2024, a staggering total of about 426 million shares of our Class A common stock were in circulation. Interestingly, around 83% or roughly 354 million of these shares were held by Cede & Co, acting on behalf of the Depository Trust & Clearing Corporation. The remaining 17%, which amounts to about 72.8 million shares, were owned by individual registered holders via our transfer agent. That’s a fascinating breakdown!
In Q1 of 2024, there were 74.6 million shares directly registered, but today we have disclosed a decrease of approximately 1.8 million shares, leaving us with 72.8 million shares registered.
This piece is intended solely for educational uses, so don’t construe it as financial guidance. Remember to take into account factors like your personal investment timeline, risk appetite, and seek professional advice from a financial expert before implementing any suggestions.
Full Disclosure:
In the context of this piece, Asif A. Khan, his relatives, and Virtue LLC – his business entity, held these roles:
Long GameStop via GME shares
Long GameStop via GME call options
Read More
Sorry. No data so far.
2024-09-11 00:27