| Author | Source |
|---|---|
| u/taranasus |
The starting point of my maths: (1) GME FTD shares Failed to Deliver SEC link: https://sec.report/fails.php?tc=36467W109 : Superstonk (reddit.com)
I think “FUCK ME” is an understatement here. I’ve been comparing GME FTDs with TSLA FTDs since TSLA is the more “Volatile” of the stocks out there. The numbers are mind blowing.
The very last datapoint we have on GME is June 14, with a FTD count of 105,712
The highest ever nr of FTDs in one day for TSLA was on DEC 17, 2020, at 1,382,452 FTDs.
At first glance, it would look like the tesla number is 10 bigger than the GME one no? Well you’d be right, however we need to remember that the number of outstanding shares for the two companies are wildly different. On Dec 17, TSLA had 905,000,000 outstanding shares, while on June 14, GME had only (assumed) 77,000,000 outstanding shares.
So if you put these percentage wise:
TSLA: 1382452 / 905000000 * 100 = 0.1527 % of total shares were FTD
GME: 105172 / 77000000 * 100 = 0.1372 % of total shares were FTD
So just a random day in June for GME had as many FTDs as Tesla did in its highest day ever in its history.
So then… the question on everyone’s mind… what was GME’s highest FTD day? Well you see everyone, Oct 13 2020: 3,210,148. On that date, according to ycharts, GME had 65.2M outstanding shares. I’m actually going to go with 70 mill shares as I think the 65M number is wrong. So
SEC what the fuck are you doing??? Seriously who looks at these numbers and goes like “YEP, THIS IS FINE!”. Do your god damn job!
Sources:
GME FTD data https://sec.report/fails.php?tc=36467W109
TSLA FTD data https://sec.report/fails.php?tc=TSLA
GME Outstanding Share Count data: https://ycharts.com/companies/GME/shares_outstanding
TSLA Outstanding Share Count data: https://ycharts.com/companies/TSLA/shares_outstanding
No fuckery going on here people….