This is heavily inspired by Consistent-Reach-152
Background
GME Certificate Of Incorporation: https://www.sec.gov/Archives/edgar/data/1326380/000132638022000080/a31-certificateofamendment.htm
Truck Hero, Inc Certificate Of Incorporation: https://www.sec.gov/Archives/edgar/data/1648189/000119312515346140/d17828dex31.htm
Delaware Code: https://codes.findlaw.com/de/title-8-corporations/de-code-sect-8-155.html
JP Morgan: https://www.sec.gov/divisions/investment/noaction/2016/jpmorgan-041416-206(3)-incoming.pdf
While there have been times in the past that GameStop or what would become GameStop have issued fractional shares (ie mergers), those are one offs
Taken together, we get the following conclusions
"As a result, a beneficial owner's ownership cannot be tracked to specific shares but rather its ownership interest is represented as a securities entitlement at his or her broker-dealer. Each of those beneficial owners don't own the actual shares credited to their account " https://www.sec.gov/news/speech/2007/spch101607ers.htm
There can however be more security entitlements than total shares issued by the company.
I wanted to show a few examples with pictures to illustrate how inexpensive it can be to buy 100 votes
I am going to show pictures of each ticker with me going long 100 shares, short a call, and long a put. The call and put will be for the same strike and the same expiration. At the very end will be a summary table of upfront costs, losses/gains, and then some additional comments.
Please note:
Examples
TLDR Summary
For 5 different tickers, this shows how you can shed some or all of your economic risk and have full voting rights. This is empty voting!
@jackofspades123
@lemmy.whynotdrs.org