GMECanada
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Gamestop discussions for Ape Hosers
GME Stonk discussions for Canadian investors. Not affiliated with the company and not a support forum for Gamestop customers.
This is a backup forum for exodus from reddit. As of now (June 30 2023) the reddit /r/GMECanada is STILL ACTIVE but 3rd party mobile apps no longer work.
Rules:
- DON'T BE A KNOB EH? (Be nice, discuss the idea, not the person)
- Keep discussions related to GME (the stock and company news that may affect it).
- NO CRYPTO SPAM. (Valid discussions of L2 partnerships eg. loopring, Protocol Gemini, web3 gaming etc. are allowed).
- Mod(s) reserve the right to ban (temp or perma) for abusive/annoying behaviour, at their sole discretion.
- Pineapple on pizza is perfectly acceptable. Those who disagree shall be banned temporarily at the whim of the mods. (See Rule 4). Pblblblbblt.
- NO POLITICS. There are an absolute tonne (metric) of other communities for that.
Looking for other related communities?
founded 2 years ago
MODERATORS
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We Like The Stonk, Eh?
[email protected]: A place for Canadians who are activist and/or engaged 'household' investors in GME:NYSE (Gamestop) to chat with each other about current events.
NEWCOMERS: READ THE FAQ POST FOR DRS, TAX, BROKER INFO
MAIN main rule: Don't be a knob
Other Main rules:
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Please do not discuss your personal floor/sale price, or the size of your position. It's up to you and you alone, don't try to influence others. No pressure, no shame.
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NO REFERRAL CODE or SIGN-UP SPAM. User ban for violators.
For FULL rules, consult the Rules section of this sub.
NOTE The FAQ section has moved to its own pinned post. If you're a new CanadApe and haven't read the FAQs, go do it now!
I'll wait.
~~ 🎶 ♫ Intermission ♪ 🎶 ~~
Feeling refreshed? You read and studied all the links in the FAQs post up there right? Good job, I knew you could do it.
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Think a post on this sub deserves addition to the above recommended reading? Please msg the mods.
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Disclaimer: All above content here and in linked sources is user-contributed DD ('Due Diligence'), and neither the mods nor any other entity takes any responsibility for accuracy of content. Not financial advice. Do your own follow-up research, verify and use your own judgement. Good Day eh?
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READ THIS YOU HOSERS :P
Please read the links below before starting new discussions about taxes, DRS, purchasing directly through CS after creating an account, or CDIC/CUDIC account insurance. A lot of info has already been compiled by smart Maple Apes so you should read it.
INFO ON TAX PREFERRED ACCOUNTS, DRS, TAX IMPLICATIONS:
DRS With BMO: The Ultimate Guide Use this VERY good guide for how to use BMO InvestorLine to DRS.
EDIT: As of April 1, 2023 BMO sadly no longer offers free DRS transfers. Fee is reportedly $100 per DRS transfer, per security. If anyone knows of a new, better DRS option pls post!
Other DRS Info:
DRS PROCEDURES FROM CANADA (may apply in most respects to other internationals as well):
Guide to executing a DRS from Canada, for all major Canadian Banks ('the big five')
BMO Transfer Form (if you want to take advantage of BMO's ~~zero-cost~~ DRS -- all Canadian brokers now charge to DRS, even BMO as of April 1st, 2023)
https://www.bmoinvestorline.com/selfDirected/pdfs/PersonalAccountTransfer_static.pdf
I DON'T WANT TO WAIT 4-6 WEEKS FOR MY COMPUTERSHARE ACCOUNT AND VERIFICATION CODE LETTERS!
If you call ComputerShare about 4-5 business days after requesting your first DRS with your broker, you can ask CS to expedite the post letters for your account # and (again call to expedite) your verification code. Each expedited post request costs about $42 USD. More recently, CS has begun to offer an email option (for only the second step, the verification #) for $30USD. Reportedly one will receive the email with verification # within 72 hours.
WHAT IS MY FOREIGN TAX NUMBER? WHAT DO I PUT THERE ON MY CS FORM?
For Canadians, just put your SIN.
HOW TO DO DIRECT PURCHASES FROM CS -- BMO Harris
Computershare will accept the Transit/Routing number 071025661 which is for BMO Harris, The BMO US bank division. 1-888-214-6720. I was able to set up a Cross-Border US account with them over the phone, and Computershare's Bank link accepts its info. Paypal will also let you transfer USD balance directly to BMO Harris. Confirmed as of Dec. 17 2021 that one can buy stock on Computershare using BMO Harris.
HOW TO DO DIRECT PURCHASES FROM CS -- Wise (formerly TransferWise)
See this helpful post for how to purchase from Computershare via Wise Thanks to u/YolAloY
There are other institutions as well that offer cross-border US chequing accounts accepted by Computershare -- if anyone can send institution names, their transit/routing numbers and screenshots/instructions, I will list here.
WHY DOESN'T GME SHOW UP ON COMPUTERSHARE'S SITE WHEN I SEARCH FOR IT?
Did you make sure you're in the USA section of Computershare's site? Check the Country setting in the upper-right of the website (desktop web view). Computershare Canada is a totally separate entity from Computershare USA, and doesn't handle any US listed securities.
If your broker seems to be stalling DRS (eg. no account movement after 10 business days, or what your broker representative has quoted you at DRS request), consider asking them the following
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What does your Service Agreement state as the maximum number of days to process Direct Registration of Shares requests?
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Are you holding real shares for me? Or just a contract for difference?
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Can I please have the name and direct number for the head of the Fulfillment Center? I’d like you to transfer me because I don’t think you are in compliance with the law stating you need to acquire and hold the securities that I paid for.
.. and Please be considerate, patient and kind to your rep. They may have no idea what is transpiring.
HOW TO FILL OUT A W-8BEN Form For Canadians
Another guide with step-by-step guides on how to fill out the form, as well as info on workarounds if you get strange timeout errors trying to do it is here: https://www.drsgme.org/fill-out-w8-ben-form (thanks to u/Bibic-Jr)
1. How to Move From PLAN to BOOK on Computershare
The ways to do it, without letting the fractionals get sold, are detailed here: https://www.drsgme.org/converting-plan-to-book (thanks to u/Bibic-Jr)
2. How to ensure DRS Shares are BOOK and fully withdrawn from the DTCC
On the CS USA website: DO THIS OUTSIDE OF TRADING HOURS OR YOUR FRACTIONAL SHARES MAY BE SOLD INSTANTLY. EDIT: Recent findings suggest one may actually want to let fractionals go, then turn off DSPP/Plan and auto-buy, to ensure one's entire account is in BOOK and truly inaccessible to the DTCC for bogus short-seller 'locates'. NFA -- there is still discussion on this topic, but if you still wish to hold onto fractional shares in DSPP, take the preceding into consideration.
- In your Portfolio, on each holdings entry click View Details -> Actions
- Choose Change Plan Election.
- Choose TERMINATE -- this moves them to 'BOOK' status.
- Now Go to Check Activity -> Pending Transactions.
- Open the GameStop entry there; if you see any SELL pending, cancel it right away. This should keep your fractional shares (NOTE pending fractional sales may take a while to show up: return to Step 4. until you see it!)
Think a post on this sub, or others, deserves addition to the above recommended reading? Please msg the mods.
Disclaimer: All above is user-contributed DD ('Due Diligence'), and neither the mods nor any other entity takes any responsibility for accuracy of content. Not financial advice. Do your own follow-up research, verify and use your own judgement.
Good Day eh? -Arghblarg
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cross-posted from: https://lemmy.whynotdrs.org/post/2488493
GameStop Company Turnaround
Since 2021, GameStop has been undergoing a transformation: fewer stores, higher value, renewed profitability
By June 2021, Ryan Cohen and the new board of directors were in the position to initiate the turnaround of the company. This has involved extensive cutting of costs, closing of stores, and modernization of a company that had previously failed to adapt with the modern era.
"We inherited a bunch of legacy everything, and under-investment across the entire business –- people, the entire technology stack, just decades of neglect, and so it’s hard to turn around a brick and mortar retailer that’s under the kind of pressure that GameStop was and continues to be under, but that was also part of the attraction going into GameStop was that a transformation the likes of GameStop was really unprecedented and I was motivated by that." -- Ryan Cohen (November 2022)
GameStop has made substantial efforts to upgrade and modernize its online store and enhance its overall omnichannel experience. This has included investing in a more user-friendly and mobile-responsive website, streamlining the checkout process, and improving product availability and search functionality. Additionally, the company has integrated buy-online-pickup-in-store and same-day delivery options.
In September 2023, Ryan Cohen became the CEO of the company. In December 2023, the board approved a new investment policy which gave Ryan Cohen the authority to manage the company's investment portfolio.
In March 2024, the company reported full-year profitability for the first time in 6 years.
In 2024, the company completed 3 at-the-market equity offering programs, raising approximately $3.5 billion in cash, raising the book value per share of GME to nearly $11.
"with respect to retail operations, we plan to continue reducing costs and focusing on profitability... This means a smaller network of stores with an expanded assortment of higher value items that fit into our trade-in model." -- Ryan Cohen, 2024 annual shareholder meeting (June 17, 2024 )
In 2024, GameStop began selling new original products such as Candy con controllers and the Raptor 8 mobile gaming controller.
In addition to the release of new original products, GameStop has also expanded into the graded trading card market.
- On October 15, 2024, GameStop announced a collaboration with PSA, becoming an authorized PSA dealer, with PSA providing authentication and grading services for trading cards through select GameStop stores across the United States.
- On November 18, 2024, GameStop announced that Nat Turner, Chairman and CEO of Collectors Holdings, Inc., has been appointed to the Company’s Board of Directors.
The turnaround of GameStop has been in progress for about 3 and a half years, depending on when the precise start point is.
A look at the core financial metrics shows significant improvements to the financial standing of the company.
GameStop has raised cash and eliminated practically all of the debt that it had. Now holding a large pile of cash, the company earns interest income rather than paying interest on debts.
GameStop continues to close more stores every year, a trend that began before the initiation of the company turnaround. As GameStop closes more stores, the revenue continues to decrease, as does the SG&A expenses.
While operating income has seen significant improvement, it remains negative.
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Was there ever any connection between the token and the security it claimed to be backed by? On the flipside, when done legitimately, a tokenized security could be a way to fix the fuckery. Digital dividend or FTX fraud, two sides of the same technocoin.
We’re living a cyberpunk novel from the 80’s, a warning that wound up a template, and the battlefield is the blockchain as we hold and hodl. It’s been a wild ride, and it’s going to get wilder. Gene Wilder wilder.
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This occurred today when I tried updating/deleting old comments via the Redact tool, on the old super-stonk sub.
Guess they're afraid of losing their captive Apes!
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i can't seem to get Lemmy to load an animated GIF, anyone else have that? It throws me back a syntax error in the JSON file.
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(Credit to rexxit user u/JackTheTranscoder)
Could this be the start of a big foreign ownership dump?
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With RC showing up in the dockets and all the other cohencidences, I am still convinced there are connecting threads between these two entities. The past weeks of court dates have been both frustrating and tit jacking all at once, and soon we should know the who/what/how’s of it all.
Scan the red packet to pickup one of these nft’s if you also think RC is not done with this play yet, and that it’s all going to tie together with a big green bow.
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This is a great tool to overwrite your posts with random words and a link to get others to consider doing so as well.
Once my comments are all gone, I'm gonna delete the posts too.
EDIT: ...and I'm perma-banned :) They didn't like me mentioning lemmy.whynotdrs.org in my farewell blurbs.
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One of the moments when i knew this situation with wallstreet was serious was when posts started disappearing and one ape took it on themselves to start backing up the community’s communications. u/Elegant-Remote6667 has gone to amazing lengths to archive and, just as importantly, make available all the facts, fun, and fud of the last couple years and for that I am grateful. Those who forget history are doomed to repeat it, so I am glad once all the shit goes down and fingers start getting pointed that apes will have a trove of date stamped proof that we were not the baddies, that we figured things out early, and that we tried our best to comment against and warn of what was coming.
Thanks Elegant for apehistorian.com and everything you’ve done, and as reddit comes off the rails, I hope our decentralizations don’t prove to be an end to the archive.
...haven't figured out how to crosspost on Lemmy yet...
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hmmm, having trouble getting Lemmy to load all the pics in the post, keep getting a syntax error message with the first character or somesuch, so until that's sorted I'll just post this one pic here, but look around for other versions with the red packet for the NFT.
As subs, posts, and people continue to be removed on Reddit, as banks look shadier and more suspect, apes have shown their resilience and adaptability by migrating their communications to multiple subreddits, multiple chats, multiple wallets, multiple brokers and DRS accounts...
Now there’s places to find apes on Lemmy, Discord, Twitter and elsewhere, and apes using Loopring and Gamestop wallets for an array of functionality. We’re like a game of whack-a-mole for the status quo, but with hundreds of thousands of moles, a growing number of holes to pop out of, and still only one ban hammer.
Let us know in the comments what decentralized service you’re liking these days, I’m digging Lemmy as a fallback when Reddit’s last embers fade.
Power to the decentralized apes!
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(credit to reddit u/Resologist and u/L3theGMEsbegin)
11,237 Canadian accounts! And, only the Yanks have more?
Thank you, u/L3theGMEsbegin .
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