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Another thought: apparently meme-stock people are finding out that they don’t actually own their stock. Asking their broker to transfer their stock to the DRS,
by moistly 5y ago
Another thought: apparently meme-stock people are finding out that they don’t actually own their stock. Asking their broker to transfer their stock to the DRS, their trading representative has said “No.”
It turns out these retail investors do not effectively own the stock. They own an entry in the broker’s book. The broker controls the stock. They decide what to do do with it. Maybe they want to lend it to a friend for a few days. If you ask for it today, they’ll get it to you in a week. Promise. Definitely by corporate year-end!
Could be interesting times if there’s a high retail demand to have stocks directly registered to the DRS. Who really owns the stocks?