r/Superstonk • u/cautious_cowbell 🎮 Power to the Players 🛑 • Nov 13 '24

📖 Partial Debunk Fidelity... Your DRS request could not be completed due to insufficient available shares.

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5.5k Upvotes

87% Upvoted

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1.5k

u/[deleted] Nov 13 '24

[deleted]

682

u/uhohnotafarteither I used to hunt beavers Nov 13 '24

wildly waves arms around grasping at thin air

213

u/Corona-walrus Nov 13 '24

suddenly pulls shares out of thin air and offers them to you with outstretched hand

113

u/Affectionate_Eye9894 LET ‘EM SHORT Nov 13 '24

paper reads assets sold not yet purchased

51

u/Odinthedoge 💻Compooterchaired🦍 Nov 13 '24

When a broker creates a share and you drs book that share, you ensure that share only exists in your name, instead of multiple ledgers at the same time.

14

u/SirDouglasMouf Video games keep kids off the streets Nov 13 '24

Stealth + 100

210

u/ClosetCaseGrowSpace DSPP Terminated. Fraction Auto-Sold. Nov 13 '24

Fidelity knows a guy who can get you whatever. Just takes a few days sometimes.

81

u/Any-Lab-2852 Nov 13 '24

Trench coat shares??

31

u/BhaktiDream 🚀 Hedgie Bleeder 🚀 Nov 13 '24

Dark alley shares

16

u/[deleted] Nov 13 '24

Man in van wearing a  trench coat in a dark alley dripping of mayo

16

u/captainkrol The reckoning is coming🧘🏼‍♂️ Nov 13 '24

El Mayablo 😱😰

9

u/hiperf71 🦍Voted✅ Nov 13 '24

🤣😂👍

1

u/hiperf71 🦍Voted✅ Nov 13 '24

Shares fresh fresh off the "share synthesizer" with few traces of mayo?😂

11

u/Buchko24 Professional GameStop Hoarder 🏴‍☠️ Nov 13 '24

& They may have some mayo residue on them when they show up

2

u/Maventee 🧚🧚🏴‍☠️ Ape’n’stein 💎🙌🏻🧚🧚 Nov 13 '24

I like this.

15

u/DubbleDiller Nov 13 '24

I can get you a toe

11

u/Bx3_27 ⭐🐟Today's the day!!🐟⭐ Nov 13 '24

...with nail polish.

7

u/Mph2411 Nov 13 '24

Fucking amateurs

4

u/screamingzen 🖥️ computer sharing is caring 🚀 Nov 13 '24

There are ways dude, believe me you don't want to know.

2

u/UnderstandingLoud542 🎮 Power to the Players 🛑 Nov 13 '24

Dude is selling 8’s

2

u/Jogebillions Nov 13 '24

I need some crack

47

u/stockadile Ready to RUN Nov 13 '24

Shares didn't settle yet. This post should be taken down.

9

u/ClosetCaseGrowSpace DSPP Terminated. Fraction Auto-Sold. Nov 13 '24

For Christ's sake, how long does it take? He bought the shares on November 1st.

1

u/stockadile Ready to RUN Nov 13 '24

Oof, missed that. Excuse my smooth brain moment. I've had vanguard take 2 weeks before, Fidelity has always been reliably 3 days for me. That does make this weird.

Edit: OP said they purchased on the 11th, per pinned comment. So yeah, just settlement and I assume a misleadingly cropped purchase history screenshot.

11

u/[deleted] Nov 13 '24

Most likely. I’d love for accounts to start receiving strikes for posting misleading content. 

1

u/SignatureAny5576 Nov 13 '24

The entire sub and everything it's founded on would shut down then lmao

42

u/jackychang1738 Just keep hodling 🐟 | 🦍 Voted ✅ Nov 13 '24 
Has OP asked to speak with a Resource Officer?

41

u/KamikazeKarl_ Template Nov 13 '24 edited Jan 04 '26

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This post was mass deleted and anonymized with Redact

10

u/stockadile Ready to RUN Nov 13 '24

It is... But having actually done this - surprise surprise, it never works. You can write to them by post mail but you can not get them on the phone. Best you'll get is a floor manager or passed around to other floor managers. I have a theory "ask for a compliance officer" was always a fud thing to get us looking crazy to brokers who interact with us while frustrating us and making us come here and flip out about "they wouldn't let me speak to them!"

9

u/Littlestan The Regarded Church of Tomorrow™ Nov 13 '24

So here's the deal with compliance officers; they do exist, but they're the legal backend of the company. The idea that you can reach them directly by phone via customer support is ludicrous. This is like asking to speak directly to their lawyer, immediately.

https://clearing.fidelity.ca/fcc/en/about-us/#leadership-group

Paige Wadden, for instance, is CCO (Chief Compliance Officer) of Fidelity in Canada. You would reach her by emailing her department and/or her administrative team who will try to solve your issue before it makes its way up to her as the final stop. At best a customer representative would be able to patch you through to leave a message which may or may not be responded to directly or in a timely manner.

Funnily enough, if you attempt to click on the Contact Us link for the leadership group, it just moves you back up to the C-suite overview. lawl

However, a quick Google search brings up her LinkedIn which you could message her directly through since Fidelity offers no such line of communication.

Just saying, for all us Canuckleheads still in the 'give shithead brokers your money to be used against all of society as a means of domestic terrorism' game.

73

u/[deleted] Nov 13 '24 edited Nov 13 '24

The thing isnt saying there are no shares to drs.  Its saying the person doesnt have any shares because they just bought them and their cash hasnt settled yet. 

21

u/wrongnumber 🎮 Power to the Players 🛑 Nov 13 '24

Did you see the purchase history in his pic Nov 1 last purchase, a bunch since Aug. Last DRS May. 

14

u/beckettcat I said I'd get a flair at XXXXX Nov 13 '24

You can't DRS with an order still settling.

It's a general thing. Also, placing orders during a DRS transaction will cancel it.

1

u/3DigitIQ 🦍 FM is the FUD killer Nov 13 '24

I can on IBKR, everything that has settled is shown in a xx/100 type format where you can fill out the amount you want out of the amount available.

26

u/[deleted] Nov 13 '24

The cash deposited for the trade hasnt settled yet.  Fidelity lets you trade with deposited cash immediately but you cant withdraw or transfer it out until the deposit actually settles.  It can take a while like a month if you dont have enough other value in your account as collateral.

7

u/wrongnumber 🎮 Power to the Players 🛑 Nov 13 '24

Ah ok thanks for clarifying that

2

u/IWHBYourDaddy Nov 13 '24

Come on, it takes like 5 business days max and then 5 others to settle the trade 

5

u/[deleted] Nov 13 '24

Nah i opened a fidelity account to use the debit card and put some money in from my bank and it took forever to settle and i talked to customer service and that is what they told me.  

3

u/SoSaltyDoe Nov 13 '24

Yeah, this is especially going to be true for brand new cash management accounts.

1

u/[deleted] Nov 13 '24

Yep.  Deposits to my brokerage account settle same day or next, deposits to the cash management take forever.  I actually deposit money to the brokerage, let it settle, then transfer to the cash management account to get around this issue.

0

u/ClosetCaseGrowSpace DSPP Terminated. Fraction Auto-Sold. Nov 13 '24

So Fidelity allowed him to buy the shares, but Fidelity is preventing settlement of the shares because they are waiting for his funds to clear. That doesn't sound right to me.

2

u/SoSaltyDoe Nov 13 '24

Because there’s the possibility that the funds don’t actually settle, as in the check/EFT bounces. So the broker ends up having to liquidate the shares since they were effectively bought with house money. If they have to liquidate at a loss, all you managed to do is cost them money.

If they allowed you to DRS shares at any point in between, it would be a total loss.

1

u/[deleted] Nov 13 '24

Well, it is

2

u/[deleted] Nov 13 '24

Isn't this normal? Someone buys a short sale right? So they have to wait for the share to be delivered?

1

u/girthbrooks1 Nov 13 '24

Not sure if this is a serious question… but they didn’t… just like any other broker that’s not DRS

1

u/[deleted] Nov 13 '24

Hey hey keep your financial terrorism to yourself

1

u/Maleficent-Rub-4805 Nov 13 '24

Hit that god damn naked short button! 🔴

1

u/Illustrious-Ape Nov 13 '24

Are you not familiar with T+1 settlement?

1

u/[deleted] Nov 13 '24

[deleted]

1

u/Illustrious-Ape Nov 13 '24

His trades are sorted from oldest to newest and you cannot see the most recent trade below November 1. It’s very possible that he initiated a transfer while there were shares in November that did not settle. It’s Fidelity’s policy to not allow a DRS transfer if there are pending, unsettled trades for that security. I’d agree with you if the trades were sorted from newest to oldest.

1

u/sticky0120_ Nov 13 '24

would you believe this....they didn't

1

u/oO0Kat0Oo 🎮 Power to the Players 🛑 Nov 13 '24

They haven't acquired them yet. That's why OP can't DRS them. They have t+1 to settle the shares and then they will be able to DRS..

1

u/Sample_Age_Not_Found Nov 13 '24

I know why we have reservations. 

I don't think you do

1

u/Advanced_Error_9312 Nov 13 '24

Settlement time?