The company announced plans to split its stock four-for-one later this month. Shareholders of record at the close of business on July 18 will receive three additional shares for every share owned via a stock dividend. The additional shares will be distributed on July 21.
Note this date: July 21
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On 9th of June 2021 GME released their prospectus filing to the NSYE with following remarks aimed to the DTCC & co. to properly distribute their dividends to their shareholders:
"If a depository for a series of securities is at any time unwilling, unable or ineligible to continue as depository and a successor depository is not appointed by us within 90 days, we will issue individual securities of such series in exchange for the global security representing such series of securities..."
Direct Source to the prospectus: https://news.gamestop.com/node/18961/html#supprom192873_26
The DTCC has 90 days to distribute every dividend or GameStop will take over and distribute it themselves.
Note this date: July 21st + 90 days = October 19
If the DTCC decides to intervene during a MOASS (for example), GameStop will change depositories to somewhere else.
It goes a little like this:
DTCC - We aren't paying up dividends
GameStop - Fine. We're going to make NEW shares and swap them for your ones. We need enough to give everyone theirs back (everyone who currently has a share) All 1.3 billion of them... buy up...
There is a very popular phrase that Ryan Cohen said during a meeting after he was appointed chairman of GameStop. That phrase is Buckle up.
GameStop’s Ryan Cohen tells investors ‘buckle up’ after being elevated to chairman of the board:
https://www.foxbusiness.com/markets/gamestop-elevates-ryan-cohen-cementing-turnaround-hopes
Now that I have laid out a date and a phrase. I believe you know where I'm going with this. I'll let you figure out the coincidence in regards to Q posts :)
Special thanks to queue-anon on the wins for researching this.
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