DRS Your GME

Thanks for posting here!

I love this EPS report - roughly -.0085, less than a cent off parity. The story here is in two parts: 1. improvement over last Q2 / general improvement and 2. maintaining negative EPS, by the skin of our teeth.

I also wanted to point out the DRS numbers here. GME DRS numbers went down about 1.2 million, from 76.6mil in Q1 to 75.4mil in Q2.

That 1.2mil difference is curiously the exact same figure that Mainstar was revealed to have been holding for GME investors on 4/21/2023 from the stockholder list. Mainstar later moved all shares they were custodian for back to Cede on 6/20/23.

However, that still would mean that overall DRS numbers stopped accumulating otherwise. There are a couple explanations for this that I can think of.

1. People are buying / drsing much less, due to economic or other factors.
2. Mainstar accumulated more shares between 4/21 and 6/20, which were also removed but we can't account for.
3. Heat lamp theory. HLT has to do with the idea that on larger volume days, there is a larger need for operational efficiency and so more shares from the plan are held with DTC. The q2 record date for DRS numbers was Aug 31, 2023 - and interestingly, that was the highest volume day for several days on either side. Something to think about.

https://finance.yahoo.com/quote/GME/history