Examining 2022 and 2023 DRS count draining
2022 negative DRS counts get overlooked sometimes. Where the DRS count going negative during a quarter is somewhat hidden.
- Between 4/30/2022 and 5/26/2022 the DRS count went -3,783,592 shares
- Somewhat hidden as it is an unofficial SEC filing DRS count. It was the first visit to GameStop HQ to view the list of stockholders.
- Sometime Aug/Sep/Oct 2022 DRS count went -700,012 shares
- Somewhat hidden as the positive offset was due to whale #1. Whale #1 prevented the DRS count going negative when their 1.2 million DRS completed mid-August 2022.
| Date | DRS count | Source | DRS shares drained |
|---|---|---|---|
| 10/30/2021 | 20,800,000 | Form 10-Q | |
| 1/29/2022 | 35,600,000 | Form 10-K | |
| 4/30/2022 | 50,800,000 | Form 10-Q | |
| 5/26/2022 | 47,016,408 | List of stockholders | Yes. Funny volume surrounding 5/26/2022 |
| 7/30/2022 | 71,300,000 | Form 10-Q | |
| 8/15/2022 | 72,500,012 | Whale #1 DRS'd 1,200,012 shares | Yes - draining occurred sometime in Aug, Sep, and/or Oct 2022. Whale #1's DRS prevented the official DRS count being negative this quarter. |
| 10/29/2022 | 71,800,000 | Form 10-Q | Funny volume surrounding 10/31/2022 |
| 3/22/2023 | 76,000,000 | Form 10-K | |
| 4/21/2023 | 76,265,982 | List of stockholders | |
| 6/1/2023 | 76,600,000 | Form 10-Q | |
| 6/20/2023 | 75,329,434 | Mainstar rugpull -1,270,566 | Yes |
| 8/31/2023 | 75,400,000 | Form 10-Q | |
| 11/30/2023 | 75,400,000 | Form 10-Q | Yes - draining occurred sometime in Sep, Oct, and/or Nov 2023. Funny volume surrounding 11/29/2023 |
Tinfoil thoughts as we do not have access to see daily changes in the list of stockholders, otherwise we could see if some accounts are draining on certain days.
- Tinfoil - forces inflate DRS shares 9 to 18 months back, then drain their DRS shares later. Probably spread across say 3,000 accounts to make it seem like normal activity.
- Tinfoil - operational efficiency draining from DRS non-Book shares on certain dates.