2/23/2024 GameStop (GME) Estimated DRS count: 76,100,046

2/23/2024 Estimated DRS count: 76,100,046 ((using today's DRSbot total + fix inadvertent DRSbot offline or resets) x 4.129)

The 4.129 multiplier comes from 11/30/2023 Form 10-Q divided by DRSbot 11/30/2023 total: 75,400,000 / 18,262,331 = 4.129

Bloomberg data (to 12/9/2023), 12/31/2023 Blackrock addition, 12/29/2023 Vanguard addition, DRS estimated count, stuck in IRA estimates, and other:

Holding	Number of shares	As of
Former Insiders (Other)	14,339,510	12/9/2023
ETFs	29,950,420	12/9/2023
MFs, Index Funds, Pension Funds, etc	36,902,186	2/13/2024
Other Institutional Ownership	30,102,685	12/9/2023
Insiders	38,655,910	12/9/2023
DRS'd - 200k Computershare accounts	76,100,046	2/23/2024
Non-DRS - 200k acct if 30% stuck in IRA	22,830,014	2/23/2024
Non-DRS - 200k acct if 50% stuck in IRA	15,220,009	2/23/2024
Other	41,413,535	2/23/2024

• Total Outstanding on 11/30/2023: 305,514,315
• Thank you to lawsondt for the Bloomberg data to 12/9/2023
• Vanguard increased shares by 785,823 on 12/29/2023 (2/13/2024 file date). From 24,664,433 to 25,450,256.
• Blackrock increased shares by 567,123 on 12/31/2023 (1/26/2024 file date). From 21,977,404 to 22,544,527.
• "Non-DRS - 200k acct if 30% stuck in IRA" is a conservative percentage. The Google share count surveys have suggested the 200k Computershare accounts have 40-50% additional shares stuck in IRAs.
• "Fix inadvertent DRSbot offline or resets" is primarily whale #1's 1,390,972 DRS shares (as of 1/4/2024). Long story of switching subs and losing her DRS share count. So added the "fix inadvertent" column to capture her DRS shares.
• Starting 1/4/2024, whale #1 started gift transferring DRS shares to others. 1,390,995 (on 12/25/2023) to now 1,390,972 (on 1/4/2024). Unfortunately, Computershare only allows one gift per month, and only up to $2000.

Discussion points:

• It seems odd on some of the DRS count fluctuations since the beginning.
• There have been 2 "somewhat hidden" 2022 rugpulls (May 2022 and Aug/Sep/Oct 2022), the June 2023 Mainstar rugpull, and now the Sep/Oct/Nov 2023 rugpull.
• It seems odd on recent DRS count stagnating (excluding the Mainstar rugpull of 1.27 million shares). From a very simplistic view assuming 200,000 Computershare accounts:

Buy X number of shares a month	Multiply by 3 months per quarter	Total DRS per quarter if 100,000 active accounts	Total DRS per quarter if 200,000 active accounts
1	3	300,000	600,000
2	6	600,000	1,200,000
3	9	900,000	1,800,000
4	12	1,200,000	2,400,000
5	15	1,500,000	3,000,000

• The April 2023 list of stockholders DRS numbers seem correct and line up with SEC filings.
• Possible some investors have had to un-DRS.
• Possible economic slowdown and inflation have reduced investor purchasing power.
• Possible whale investors who helped inflate DRS numbers alot, have dramatically slowed down their purchasing.
• Tinfoil - certain parties 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.
• Tinfoil - possible something funny with SEC filing reported number.
• There is the recent post from sister sub, google search on: Deep analysis on Computershare recurring buys reddit

He examines the bi-weekly recurring Computershare buys. The bi-weekly recurring buys were around $900k to $1.5 million.

An alternative DRS count estimation may be estimating money spent by retail purchasing GME per quarter. It was around $1.2 million average per 6 recurring Computershare buys per quarter. Then say a massively conservative $200k per other trading day. So:

If average $1.2 million spent per bi-weekly purchase, and say $14 a share, multiply by 6 for one GME quarter:

• 1,200,000 / 14 = 85,714 shares * 6 = 514,284 shares
• The 6 recurring buys alone should add 514,284 DRS shares.

Other 54 trading days:

• $200,000 / $14 a share = 14,285 shares a day
• 54 * 14,285 = 771,390 shares

Total:

514,284 + 771,390 = +1,285,674 DRS shares a quarter

---

Additional data #1:

2/23/2024 Top 50 holders from recent reddit activity:

• Using sample of 653 data points (2,458,580 DRS'd shares)
• Top 50 holders are 2,074,285 of the 2,458,580 DRS'd shares

Position	Number of shares
1	1,390,972
2	70,800
3	58,769
4	46,518
5	42,004
6	38,008
7	31,150
8	30,701
9	29,369
10	22,187
11	21,568
12	20,000
13	18,705
14	14,507
15	14,224
16	14,220
17	11,900
18	10,522
19	10,101
20	10,085
21	9,583
22	9,551
23	9,544
24	8,500
25	8,311
26	8,000
27	6,695
28	5,860
29	5,600
30	5,503
31	5,400
32	5,362
33	5,339
34	5,266
35	5,256
36	5,213
37	5,069
38	4,788
39	4,485
40	4,420
41	4,380
42	4,258
43	4,221
44	4,216
45	4,200
46	3,872
47	3,799
48	3,772
49	3,763
50	3,749

4/21/2023 List of stockholders top 25 holders (Credit: drs gme org contributors):

Position	Who	Number of shares
1	Cede & Co	228,451,023.9
2		1,200,009
3		203,868.0026
4		160,000
5		146,896
6		128,000
7		109,812
8		108,000
9		108,000
10	GameStop Omnibus Account	78,012
11		72,000
12		66,000
13		65,329
14		61,536
15		60,140
16		60,000
17		60,000
18		58,000
19		57,884
20		57,065.16734
21		55,840
22		55,479.32866
23		53,000.09312
24		51,600
25		50,810.5893

2/23/2024 Insider share count via SEC Form 4 filings:

Who	Number of shares	As of
Ryan Cohen	36,847,842	6/9/2023
Patel Nir Vinay	1,004,695	7/10/2023
Alain Attal	562,464	9/8/2023
Mark Robinson	68,687	1/2/2024
Lawrence Cheng	55,088	9/8/2023
James Grube	23,864	6/15/2023
Daniel Moore	22,963	1/2/2024
Xu Yang	19,860	6/15/2023

Additional data #2:

Number of Computershare accounts:

Date	Number of Computershare accounts
5/8/2023	213,4xx
8/2023 or 9/2023	213,500
10/24/2023	216,3xx
11/21/2023	217,xxx
12/10/2023	218,xxx
1/4/2024	218,4xx

Number of record holders:

Date	Source	Number of record holders
3/11/2022	Form 10-K	125,543
3/22/2023	Form 10-K	197,058
4/21/2023	List of stockholders	197,954

GME Volume last 2 years:

Year	Volume
2022	2,825,293,700
2023	1,167,878,465

20 lowest volume days (as of 2/22/2024):

Rank	Date	Volume	Closing price
1	8/3/2023	1,318,700	$20.93
2	8/8/2023	1,431,300	$20.74
3	8/10/2023	1,432,400	$20.19
4	8/7/2023	1,441,300	$21.07
5	7/26/2023	1,489,200	$22.70
6	8/11/2023	1,500,200	$20.19
7	5/9/2023	1,522,700	$20.24
8	5/11/2023	1,652,500	$20.88
9	1/30/2024	1,652,600	$14.55
10	7/25/2023	1,672,000	$22.85
11	9/27/2023	1,681,300	$17.15
12	11/8/2023	1,705,600	$13.28
13	2/21/2024	1,731,300	$13.41
14	7/12/2023	1,742,200	$23.44
15	4/13/2023	1,803,900	$22.55
16	7/3/2023	1,806,600	$24.91
17	2/22/2024	1,810,000	$13.36
18	10/13/2023	1,820,565	$14.90
19	2/8/2024	1,838,300	$14.35
20	8/30/2023	1,884,500	$18.37