BLACKROCK, VANGUARD, and FIDELITY are going to NUKE 🔥 Shitadel!!!
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| Author       | Source       | 
| :-------------: |:-------------:|
|  [u/Wilmar16](https://www.reddit.com/user/Wilmar16/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/mr5s1k/blackrock_vanguard_and_fidelity_are_going_to_nuke/) | 

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[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)

How Investing Giants Gave Away Voting Power Ahead of a Shareholder Fight!

Disclaimer: financial advise! Fuck is that shit, I'm drunk and you bored so listen to me rap.

TA:DR (too ape didn't read) Blackrock, Vanguard and Fidelity has every incentive to send us to the fucking 🌙🚀🚀🚀🚀🚀🚀🚀🚀 strap the fuck in

So i was curious about the dynamics of a share recall and to see why the big names maybe will or will not recall shares so i started digging and found some stuff

First i wanna bring in HESTIA CAPITAL MANAGEMENT, LLC, before Ryan Choen came in, they were the frist to try and recall shares and get a vote going. We knew that part already however this is one thing not discussed much but Hestia wanted a share recall to vote on the corruption of the old board and bring in some new blood to change the direction they were going so check this out

<https://www.sec.gov/Archives/edgar/data/1326380/000092189520001599/ex1todfan14a12166002_052620.pdf>

Seem like Hestia was trying to point out just how fucked up the old board of directors were which really leads me to blieve they were working with shorts to drive Gamestop into bankruptcy (my opinion). Which would explain how Ryan Choen and the gang was able to get shit moving so quickly cuz they have the goods on them, here are some allegations that Hestia brough up

**The Board eliminated the annual dividend as the Company's credit quality deteriorated. GameStop?s stock fell 36% upon announcement of the cut and has not recovered since (this allegation give me confirmation bias Ryan Choen will bring it back, maybe as crypto but we will see)

**Management did not refinance the 2021 Senior Notes when they were in a better position to do so, despite our efforts to get them to do so (didn't Ryan Choen and the boys just do this..... hmmm)

***The Board repurchased stock after significant stockholder pressure (the shares that were bought back were not by choice, hmmmmmm)

*****GameStop's issues are not related to recent market volatility, but rather an inability to perform. For the first time since being public, GameStop was cash flow negative in fiscal 2019, recording a negative free cash flow of ($493) million (so Gamestop was always cash positive until the board started fucking around......... hmmmmm guess they always had deep fuckig value, i wonder who else noticed)

********The Board has chosen to spend more than $1.6 million fighting to keep two underperforming, long-tenured, lame-duck directors (hmmmmmm so the board was spending money and fighting to keep dead weight around for some reason, i wonder who was the lame duck, looking at you old CFO)

************GameStop?s Board has repeatedly failed shareholders contributing to a share price decline of 85%over the past five fiscal years (so basically Hestia is saying that the old board of directors were total shit, no wonder shorters thought they were going to go bankrupt and shorted more then the float, seems like a sure bet, until apes found out oops)

All these allegations were broght up by Hestia, click the link and go read it yourself now lets talk about, The Big 3. Not Lebron, Wade and Bosh thats way old I mean Blackrock, Vanguard and Fidelity. Why didnt they recall shares and voted when Hestia clearly pointed out how much of a shit job these guys were doing, well it seems like they were more concerned about borrow fees (yep, they were much higher at this time) check it

<https://www.wsj.com/articles/how-investing-giants-gave-away-voting-power-ahead-of-a-shareholder-fight-11591793863> (might have a pay wall but basically the big three, shit even other firms gave up rights because the stock was trading under $5 so they figured the keep them on loan since that was more profitable)

<https://iborrowdesk.com/report/GME> (im sure yall know about that link but look at the borrow fee around May-June 2020 and compare it to the fee now)

The fee today is fucking peanuts compared to the current stock price, so now we basically have a reverse of the situation from last year and another share holder meeting. So ok, well maybe Blackrock still may not vote....... well seems like Blackrock fucks with Ryan Choen since you know he made them bank with chewy "Ultimately we raised six rounds of financing totaling more than $350 million from T. Rowe Price, BlackRock, Greenspring, Lone Pine, Verlinvest, and the investment bank Allen & Company." taken from an excerpt Ryan himself wrote on this article

<https://hbr.org/2020/01/the-founder-of-chewy-com-on-finding-the-financing-to-achieve-scale>

Ok, well Blackrock may want to vote, since they cool with Ryan and vote him in, what about Vanguard you ask? Well check this

<https://www.investopedia.com/articles/investing/110515/who-are-owners-vanguard-group.asp>

So who owns Vanguard? "The company is owned by its funds. The company's different funds are then owned by the shareholders. Thus, the shareholders are the true owners of Vanguard. The company has no outside investors other than its shareholders." Ok so lets see who owns more shares the Vanguard since shareholders are the owners

<https://en.wikipedia.org/wiki/The_Vanguard_Group>

"the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock's iShares." Ok so we can say that Blackrock has some tentacles in Vanguard and can count as owner since they own shares that Vanguard has as well...... ok what about Fidelity will they recall shares?

Remember Jan 27th and 28th? Yea you do, so does Fidelity, the had a 17% rise in their retail traders numbers because of it, i moved to Fidelity and im sure you see daily how many other are moving there to and plan on voting so yes we can say Fidelity has share holders who will most def wanna vote.

<https://www.wsj.com/articles/fidelitys-assets-under-management-rise-to-3-8-trillion-11614700831>

So yes i believe the big three will NUKE short hedge funds with a share recall its literally in their best interest to do so the fees are shit now and the price going higher due to a share recall will be way more beneficial to them unless they dont like money

Edit: Fidelity had its own Reddit page and they have confirmed April 15th (tomorrow as recall date) the deadline to have purchased shares for the first time was April 13th (due to T+2 time) so you can be an eligible share holder to

<https://www.reddit.com/r/fidelityinvestments/comments/mqz9ne/hot_topic_gamestop_corp_gme_proxy_voting/?utm_source=share&utm_medium=ios_app&utm_name=iossmf>

Edit: [u/Dahnhilla](https://www.reddit.com/u/Dahnhilla/) makes a comment saying Vanguard can't vote because they have no SOLE voting power but they do have shared voting power so it's not completely true they can't vote and Fidelity has seemingly sold their shares. Fidelity didn't sell, they transferred shares from one part (FRM LLC) to another part of Fidelity, I can't remember the post that explained it but if anyone remembers can they link in the comments please. This post isn't to prove that these 3 names are indeed going to vote even if it's in their best interest to do so. I just wanted to bring light the incentive they have to work together and indeed vote because they will make each other a fuck ton of money. Also these 3 ARE NOT apart of the DTCC so they really don't give af what happens during member defaults and new rules. Here is her/his (my bad bra I can't tell which one 😅) post

<https://www.reddit.com/r/Superstonk/comments/mq1g5e/vanguard_dont_have_voting_rights_for_most_of/?utm_source=share&utm_medium=ios_app&utm_name=iossmf>
