![]() The company said it expected to “record a benefit in cost of goods sold” of between $35 million and $40 million after taxes, or 20 to 22 cents a share, related to the two facilities in the fourth quarter. government said that commercial-grade aluminum could qualify for a manufacturing-related tax credit. AA on Monday said it expected a “benefit” to production costs related to two of its smelting facilities in New York and Indiana, after the U.S. So in the end, it turns out that discrepancy was apparently a data snafu between Fidelity and Vanguard, possibly the most stentorian and hot drama-averse names in American finance.Alcoa sees ‘benefit’ to costs, after government’s clarification on tax creditĪluminum-production giant Alcoa Corp. We regret this error occurred and apologize for any confusion this may have caused.” “The error was corrected shortly thereafter and before the markets opened. “Due to a clerical data entry error, yesterday we provided Fidelity with the incorrect “potential securities lending availability” data for Gamestop (GME),” a Vanguard spokesperson wrote in an exclusive statement. UPDATE: Wednesday was very interesting as we learned who the mysterious counterparty was late in the evening…and it was maybe the name nobody had on their list of suspects. Wednesday should be interesting for everyone involved. That campaign got a boost on Tuesday afternoon, and Fidelity ended up with a hole in its dadcore-reputation armor. ![]() While that explanation was more fulsome, it did not go over great.īut Reddiit is already buzzing with an emboldened campaign among Apes to keep direct-registering their GME shares and keep them out of the hands of anyone looking to borrow and short them. “We can confirm that the number of shares borrowed never exceeded the actual amount that were available.” ![]() The GME shares available to short is now correct on the trade ticket.”Īnd the company even clarified perhaps the most important concern for retail folks. “After researching the volume with our lending services team, we were able to identify that the root cause was an incorrect entry of the number of shares available to short by one of our external counterparties. “Today, 11/30, our trade ticket reflected an incorrect number of GME shares available to short,” read a post on Fidelity’s own subreddit, posted just after 3:30 p.m. Reddit low-key exploded with users speculating that the shares they had attempted to DRS were being lent out by Fidelity, or that the brokerage was misleading them in other ways, or that some big hedge fund had covered its short position (which was a tough one to buy considering the stock is now down over 19% in the past five days).įidelity appears to have spent Tuesday experiencing an influx of calls from furious retail investors and enduring a rough day on social media, because something was amiss with GameStop in 2021.Īnd the company’s early attempts did not calm nerves, with a midday response to angry customers on Reddit explaining how Fidelity computes shares available, something most Reddit Apes are intimately aware of by now.īut by the afternoon, a clarification was available. “WTF?! CAN SOMEONE EXPLAIN WHERE THESE SHARES CAME FROM?” queried user Hamberere on GameStop subredddit r/Superstonk late Tuesday morning, sharing a screenshot of their Fidelity account, which showed almost 13,767,545 shares available to short.įor pro-GME Apes who have spent 10 months trying to keep short sellers from getting their hands on GameStop shares - and going so far as to transfer their accounts to Fidelity and even direct-register them to keep them locked away - this was a shockingly high number of available shares, and well more than the 2 million that were available on Monday evening. Which makes it pretty cringey to see that a growing band of retail Apes spent much of Tuesday morning ignoring the macro bloodbath across indexes and combing through what they thought looked like a fishy discrepancy on Fidelity’s platform, regarding GameStop. ![]()
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