📰 News German here, THIS IS HUGE: Bafin (The German SEC) has just confirmed in a publication that Gamestop dividend shares are incorrectly booked in Germany.
Here you can find the publication: BaFin - Aktuelles - GameStop
and on Twitter: Bundesanstalt für Finanzdienstleistungsaufsicht auf Twitter: „Aus aktuellem Anlass informiert die BaFin in diesem Thread über Aktien der #Gamestop Corp. $GME #GME (1/5) https://t.co/GULpT70mbG“ / Twitter
"Due to current occasion BaFin informs in this thread about shares of #Gamestop Corp. $GME
GameStop Corp. resolved a stock split in the form of a stock dividend at the beginning of July. BaFin has - also due to some indications from investors - instructed the custodian banks to ensure the deposit of the new shares.
Technically, however, the capital measure has so far been treated by the relevant data providers as a stock split and not as a stock dividend. On July 29, 2022, however, individual data providers had changed the type of corporate action to a stock dividend, but reversed this on August 1, 2022. For individual custodian banks, this may require a purely technical recalculation, but this should be implemented within a few days. The holdings of old and new shares already held in custody by these banks will not be affected by this recalculation."
We Germans are loud and it seems to have an effect! Bafin has closed pornhub and acted surprisingly quickly!
📰 News German broker Comdirect says that the DTCC told told their despository (aka Clearstream) that the splividend should not be treated as a dividend but as a regular stock split. (More inside)
📰 News Without Any Legislative Powers, the Fed Is Rewriting the Law and Creating a Permanent $500 Billion Bailout Facility for Wall Streetgallery
📰 News Austrian Financial Market Authority FMA (The Austrian SEC) confirms that Gamestop has done a split-as-dividend and instructs brokers to "deal promptly with customer complaints and inquiries" and "take appropriate measures if necessary" (translation in comments)fma.gv.at
📰 News @The_DTCC filed this form using code FC-02, which is Function Code for a forward stock split, instead of FC-06, which is the code for a stock dividend. A stock split via a stock dividend should be processed as FC-06. Credit: @Blaq_Eth
📰 News The splivigeddon saga continues! German bank reevaluated the situation and the stock dividend, that was carried out/announced after the stock-Split was reversed, is now RE-REVERSED into a normal stock split again! 😅 can’t make that shit up
📰 News ☢️ Q2 GDP -0.9% ☢️ Ladies and Gentlemen, we have a recession! (Although the White House wouldn't want you to call it that 🤡🤡🤡)bea.gov
📰 News ImmutableX is live on GameStop Wallet. We're onboarding the next billion players to true digital ownership.
Hi all - not sure if anyone saw this BBC article: https://www.bbc.co.uk/news/business-62417010 that got posted earlier today but it’s getting harder and harder to stand by as our beloved company is continually referred to as a ‘meme stock’ by the MSM - so I want to share with you this letter as sent to the author.
FOA Peter Hoskins, Business Reporter
I’m reaching out in regards to your article: https://www.bbc.co.uk/news/business-62417010
I would like to discuss with you the use of the term 'meme stock'. In my understanding, this is a derogatory term used in the attempt to discredit or undermine the fundamentals of a company and being that you state the following within your article:
“US retailer GamesStop and cinema chain [POPCORN] were two of the most high profile meme stocks that saw their shares soar last year.”
It could be interpreted that you are being instrumentalised to perpetuate this stereotype – being that a company’s value success is only reflective of online rallying and dismisses any fundamental value as exists beyond that.
So what basis do you have to refer to these companies as such?
Considering the impartial standpoint that the BBC is recognised to have in the reporting of the news, I find this language to be contradictory and the utilisation of such an unwelcome term allows for this wrongful perception of the companies as associated with it to persist.
Furthermore, to what basis is there to state that the AMTD Digital stock has been 'likened' to a ‘meme’ stock as stated below, and who are these commentators? The statement in reference is as followed:
Some commentators have likened the rise in AMTD Digital's value to so-called "meme stocks”.
Do you have any evidence of this, and if so – why not use this to support the claims you have articulated in this article.
I would argue that there is good reason why “AMTD Digital did not immediately respond to a request for comment from the BBC” and I think if you are looking to gain more insight into the bigger picture, such as – how it is possible that HKD AMTD became the 25th Largest Company in the world in 2 weeks – Larger than Pfizer, Coca Cola, Bank of America, Shell or McDonalds – may I suggest you start by looking on Reddit: r/superstonk (type HKD into the search bar for a more specialised search on this topic).
Perhaps mainstream media’s need to perpetuate the term “meme stock” is a convenient distraction away from a more disturbing truth.
I await your response, and power to the players.
EDIT: If others would also like to forward this to the BBC for a response, here’s how: email@example.com
You can also complain to ofcom about content standards:
They also have an online complaints form.
There were a couple of forms, but this was for complaints that require a response.
Newswatch - firstname.lastname@example.org,
Complaints - https://www.bbc.co.uk/contact/complaints
Let your voices be heard.