Grapefruit USA Inc (GPFT)

[Frank39]

My understanding is that when you buy securities that are held in the Street, the securities are held in the name of the brokerage firm and not in your name. Consequently, the number of shareholders will appear to be much less. This is a convenience for transferring the shares when you want to sell. Years ago, people would hold the stock in their possession. Selling the shares meant physically delivering the shares to your broker - a situation that would not be possible in today's fast moving market.

This definition is from the SEC:

Street Name

When you buy securities through a brokerage firm, most firms will automatically put your securities into "street name." This means your brokerage firm will hold your securities in its name or another nominee and not in your name, but your firm will keep records showing you as the real or "beneficial owner." You will not get a certificate, but will receive an account statement from your broker on at least a quarterly and annual basis showing your holdings.

Frank39