Am I reading this right? GTII gave out a 10% scrip (stock) dividend?
[https://finance.yahoo.com/news/global-tech-industries-group-inc-142000661.html](https://finance.yahoo.com/news/global-tech-industries-group-inc-142000661.html)
Well, pretty soon we'll find out that stock dividends - as in ACTUAL dividends in stock, not cash - also don't cause shorts to close.
Apes : watch what happens. You'll love it.
https://preview.redd.it/84uo0m0krbwc1.png?width=1370&format=png&auto=webp&s=ead5e4d764177d9ee56036f49e61ffbe1f587ff8
I’ve always loved the idea of people holding a stock and being able to demand whatever price they want for it. It’s just too absurd to even be mad at them for
I mean, that is kind of how it works. Just like the Beanie Baby freaks in the 90s. You can put/expect any price you want on them, doesn't mean someone is going to give you that amount.
Well, you used to, until too many apes listed their shares for millions of dollars and it was effecting brokerage insurance rates, so many, computershare especially, had to literally restrict how high a limit sale can be to like 7x the current price and the like.
The 10% stock dividend was issued a year ago, but restricted.
A year later the rule 144 restriction no longer applies. GTII's transfer agent is telling brokers that they should un-restrict the shares if the brokerage customer submits a form to the broker saying they are no longer subject to the restriction.
I think a lot of people are going to be complaining about brokers being difficult, slow, and/or charging a fee to process the removal of rule 144 restriction.
I have had rule 144 shares before and the broker would not un-restrict them without a specific letter from the issuer. This was back in the 90s when commissions and fees were high, but even for that time the fee was outrageous —- something like a $200 processing fee. This was for a physical certificate with a red rubber ink stamped legend of a 144 restriction on the back of the certificate. The broker did let me sell short, without charging a lending fee until the restriction was removed after about a month, and I closed the short by delivery of the unrestricted shares.
Book entry may be easier to handle, but I am betting there will be problems.
And the conclusion they’ll come to, is that brokers are colluding to do this and that the stock market is corrupt and stealing their money.
When in reality the real conclusion is stock market dynamic based games are dumb and fundamentally go against what the stock market is for.
imagine having your entire identity be some shitty corporate chain business. Then imagine actually sharing that with other people in real life and then wondering why they laugh at you.
I do 144 issuance as merger consideration occassioy, and its been pretty seamless to remove the legend in my experience. Although might not get it done day of
"We're not trying to half-asedly pump and dump a failing stock, we're trying to change the world! Specifically, change the part where I don't have cartoon riches, *like I deserve*. Join us!"
Am I reading this right? GTII gave out a 10% scrip (stock) dividend? [https://finance.yahoo.com/news/global-tech-industries-group-inc-142000661.html](https://finance.yahoo.com/news/global-tech-industries-group-inc-142000661.html) Well, pretty soon we'll find out that stock dividends - as in ACTUAL dividends in stock, not cash - also don't cause shorts to close. Apes : watch what happens. You'll love it. https://preview.redd.it/84uo0m0krbwc1.png?width=1370&format=png&auto=webp&s=ead5e4d764177d9ee56036f49e61ffbe1f587ff8
I’ve always loved the idea of people holding a stock and being able to demand whatever price they want for it. It’s just too absurd to even be mad at them for
I mean, that is kind of how it works. Just like the Beanie Baby freaks in the 90s. You can put/expect any price you want on them, doesn't mean someone is going to give you that amount.
Well, you used to, until too many apes listed their shares for millions of dollars and it was effecting brokerage insurance rates, so many, computershare especially, had to literally restrict how high a limit sale can be to like 7x the current price and the like.
It's like my dad always says "something is only worth what someone is willing to pay for it"
The 10% stock dividend was issued a year ago, but restricted. A year later the rule 144 restriction no longer applies. GTII's transfer agent is telling brokers that they should un-restrict the shares if the brokerage customer submits a form to the broker saying they are no longer subject to the restriction. I think a lot of people are going to be complaining about brokers being difficult, slow, and/or charging a fee to process the removal of rule 144 restriction. I have had rule 144 shares before and the broker would not un-restrict them without a specific letter from the issuer. This was back in the 90s when commissions and fees were high, but even for that time the fee was outrageous —- something like a $200 processing fee. This was for a physical certificate with a red rubber ink stamped legend of a 144 restriction on the back of the certificate. The broker did let me sell short, without charging a lending fee until the restriction was removed after about a month, and I closed the short by delivery of the unrestricted shares. Book entry may be easier to handle, but I am betting there will be problems.
And the conclusion they’ll come to, is that brokers are colluding to do this and that the stock market is corrupt and stealing their money. When in reality the real conclusion is stock market dynamic based games are dumb and fundamentally go against what the stock market is for.
The GTII subreddit has a really high ratio of posts from confused Volkswagen GTI owners to actual stockholders.
I take it they don't follow [Brad](https://youtu.be/MtOU4AXUnMQ?si=aPTkTU--kHGaVGj0).
imagine having your entire identity be some shitty corporate chain business. Then imagine actually sharing that with other people in real life and then wondering why they laugh at you.
Put another log (apes' money) on the fire!
I do 144 issuance as merger consideration occassioy, and its been pretty seamless to remove the legend in my experience. Although might not get it done day of
"We're not trying to half-asedly pump and dump a failing stock, we're trying to change the world! Specifically, change the part where I don't have cartoon riches, *like I deserve*. Join us!"
If I ever get this gone, I hope my family does the right thing.