this post was submitted on 21 Sep 2023
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DRS Your GME

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Hello Apes. First time posting here on Lemmy. Has there been a serious discussion about forming an activist investor group? (lemmy.whynotdrs.org)
submitted 1 year ago by [email protected] to c/[email protected]
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Some of you may have seen in the other place a post recently about forming an AIG. I don't think its a particularly controversial statement to say that most of the get-shit-done Apes are long gone from the other place. For the sake of brevity I'm going to call the Apes in the Miller eco-system the dream team. You know who you are.

Did the dream team ever look into the possibility of an AIG? Was there a serious discussion about forming one? Would an AIG actually help Apes reach 100% DRS of GME? Could it potentially put us at odds with the board at GameStop? Might it take away our current strength (decentralised individuals) and instead give the enemy a tangible target?

For all I know you've already got the ball rolling on this. Either way. Good, bad, ugly, it would be good to hear everyone's thoughts.

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[–] [email protected] 5 points 1 year ago* (last edited 1 year ago) (1 children)

No offense, but I think that's shortsighted. AIGs get stuff done and are well-within legal bounds and something that have proven to be effective. As for things that could be done, here are some very strong possibilities from this post/comment:

  1. GME should work with Computershare so they (CS) can serve as a custodian for IRA’s. Ally and Mainstar have both walked back their support for DRSing IRAs. Computershare acting as a custodian as part of their contract with GameStop should allow for a cleaner solution.
  1. Revise the contract w/ Computershare w/ respect to their DirectStock plan, and provide more transparency to investors about both the ownership hierarchy of shares in the plan and the degree to which DirectStock shares are utilized for 'operational efficiency' - often 10 to 20%
  1. Issue a bulk of shares available for direct purchase by investors, similar to Home Depot's Depot Direct. This would allow for GameStop to sell shares directly to investors, and would allow purchases to be "Pure DRS" without further steps or actions.

Edit - Adding in 4, 5, and 6 from my comments on this post.

  1. request that GameStop insiders (or at least board members) must hold their shares in Pure DRS, especially for vested shares that cannot be sold for a while.
  1. GameStop should consider becoming their own transfer agent when their contract with Computershare is up for renewal.
  1. Introduce pro reward incentives, like additional percentage off, for verified stockholders on their ledger.
[–] [email protected] 2 points 1 year ago

I fear that forcing GME's hand will land them in huge legal troubles before/esp after this pops off.

I trust the silent strategy that slowly implicates Cede over time, as we get closer to 100% in ~6 years or so.