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  • Transferring Shares

     CrayonMuncher updated 1 year, 1 month ago 2 Members · 2 Posts
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  • Jesse

    Member
    August 13, 2021 at 10:12 am

    Ape Andy put out two YouTube videos about transferring shares from one brokerage to another brokerage. He explained that when you transfer shares that real shares must be transferred not synthetic shares. Why? The transfers happen to go through the DTCC and they don’t except synthetic shares. He also showed a Twitter screen shot of someone that did transfer shares. Is this real and can someone verify if this is true. I’m not calling anyone out just “trust but verify”. Heres two links as to what I’m talking about.

    https://www.youtube.com/watch?v=Gj18Y0sPYUM&t=298s

    https://www.youtube.com/watch?v=BmyH-v8rjHE

    Justing putting out more information for the apes 🤙

  • CrayonMuncher

    Member
    August 13, 2021 at 10:34 am

    From the research I’ve tried to find, yes, the brokerages must transfer real shares. If they didn’t really have them but marked your account as having them, they have to go out to the market to buy them. This could cause a slight delay in the transfer since they have to go out and purchase them.

    Back when a lot of people were transferring out of PFOF brokerages like Robinhood and Webull, there was a lot of talk about how it could help drive the share price up with brokerages going out and purchasing shares, so that could have contributed to some of the spikes we saw too.

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