GameStop (GME) – Request report turned around and started climbing Wednesday after short-seller Citron Research said it was cleaning up its bearish livestream call because it didn’t want to disrupt the presidential inauguration.
Shares of the Grapevine, Texas company were up nearly 1% at the last check to $ 39.72. Stock had been declining earlier in the session.
Citron said earlier Wednesday it would be holding a phone call at 11:30 a.m.ET and “the 5 reasons why GameStop $ GME Buyers at these levels are the suckers of this poker game. “
“Stock will quickly return to $ 20,” the company said. “We understand short-term interest rates better than you and will explain. Thanks to viewers for feedback on the latest live tweet.”
GameStop’s stock climbed Tuesday despite the negative forecast.
However, at 11:09 a.m. Wednesday, Citron Research announced on Twitter that it would not continue with the lifestream.
“$ GME still going to $ 20 easily, but Citron doesn’t want to go live in the midst of a historic presidential inauguration, “said Citron. We respect the office of president and our country and will not interfere with market commentary. We look forward to the livestream tom. Gold Bless America. “
Joseph Biden and Kamala Harris were sworn in as president and vice president respectively on Wednesday after Donald Trump’s term of office officially ended.
GameStop has not responded to a request for comment, but several people have expressed their feelings on Twitter.
“So when you announced yesterday, you weren’t aware of the inauguration schedule.?” one commenter said. “I smell BS!”
“Hahahahahhaa, you’re kidding,” said another.
Another commenter wrote snarkily, “Yes, an event that takes place on the same day for four years was completely unexpected.”
GameStop recently appointed three new directors as part of its agreement with RC Ventures, the company’s second largest shareholder.
One of the directors is Ryan Cohen, who directs RC Ventures. Cohen founded Chewy and was chief executive of the pet products supplier (ALL OF THEM) – Request report. He led the company through the sale of $ 3.3 billion to PetSmart.
In December, Citron Research published a report called DoorDash (Dash) – Request report the “most ridiculous IPO of 2020.” Shares of the San Francisco food delivery company were down 2.3% recently at $ 194.15.