Adding two other ideas -

5. GameStop should consider becoming their own transfer agent when their contract with Computershare is up for renewal.

6. Introduce pro reward incentives, like additional percentage off, for verified stockholders on their ledger.

A fourth potential - request that GameStop insiders (or at least board members) must hold their shares in Pure DRS, especially for vested shares that cannot be sold for a while.

Love it. What’s the next step towards forming one? Time to lawyer up?

ChatGPT…

Here’s what it has to say from “How do you form an Activist Investor Group?”

Forming an activist investor group involves a strategic and organized approach. Here are general steps to consider when forming an activist investor group:

1. Define Objectives:

   • Clearly articulate the objectives and mission of the activist investor group.
   • Identify the specific goals, such as influencing corporate governance, advocating for changes in company strategy, or maximizing shareholder value.

2. Identify Like-minded Investors:

   • Research and identify potential investors who share similar goals and interests.
   • Seek out individuals or institutional investors who are willing to actively participate in the group’s activities.

3. Build a Network:

   • Reach out to potential members through personal connections, industry events, online forums, or investor networks.
   • Cultivate relationships and engage in discussions to gauge their level of interest and commitment.

4. Establish Legal Structure:

   • Determine the legal structure of the activist investor group, such as a partnership, limited liability company (LLC), or other appropriate entity.
   • Seek legal counsel to ensure compliance with relevant regulations and to draft necessary documentation, such as operating agreements or partnership agreements.

5. Define Roles and Responsibilities:

   • Assign roles and responsibilities within the activist investor group.
   • Determine leadership positions, committee assignments, or specific tasks based on members’ expertise and interests.

6. Develop a Strategy:

   • Create a comprehensive strategy that aligns with the group’s objectives.
   • Identify target companies, analyze their financials and governance practices, and assess potential areas for improvement or change.

7. Conduct Research and Due Diligence:

   • Perform in-depth research on the target companies, including their financial performance, market position, corporate structure, and existing shareholder base.
   • Assess potential risks, legal considerations, and regulatory requirements associated with engaging as an activist investor.

8. Engage with Target Companies:

   • Develop a plan for engaging with the target company’s management, board of directors, and fellow shareholders.
   • Consider various methods of engagement, such as direct communication, proxy voting, shareholder resolutions, or public campaigns.

9. Leverage Resources:

   • Pool resources within the activist investor group to maximize impact.
   • Utilize the expertise, networks, and financial resources of group members to support the group’s initiatives effectively.

10. Execute and Monitor:

    • Implement the activist investor group’s strategies and initiatives.
    • Monitor progress, track results, and adapt the approach as necessary.

Note that forming an activist investor group involves legal, financial, and regulatory considerations. It’s crucial to consult with legal and financial professionals to ensure compliance with applicable laws and regulations and to mitigate any potential risks.

(note by me: this last sentence is interesting and, to me, I think is legitimate in many ways, though does come across as maybe something that would be said by a sort of Wall Street lackey)

More resources:

… just came across this and thought it is a good, quick article and (maybe) whole website. https://theactivistinvestor.com/The_Activist_Investor/Blog/Entries/2015/7/21_13D_Groups.html

few other potential resources:

• http://www.cii.org/
• http://www.activistinsight.com/
• ~~http://www.shareholderrights.org/~~ edit: defunct
• http://www.issgovernance.com/

I clicked “Regenerate response” on ChatGPT and got more with a couple duplicates.

It also said,

“It’s important to note that each activist campaign is unique, and outcomes can vary depending on the specific circumstances, company dynamics, and market conditions. Successful “wins” by activist investor groups are often the result of thorough research, strategic engagement, building alliances, and effectively articulating the case for change to other shareholders and stakeholders.”

We could definitely organize ourselves like this. But we would need statutes, a direction, meetings with meeting minutes, etc.

Love it!