GameStop Short Squeeze Predictions Fall Flat Without Roaring Kitty

The prominent Reddit community Superstonk is still abuzz with GameStop stock hype. But in Roaring Kitty’s recent absence, its users’ bold predictions are falling short, becoming a subject of ridicule for many posters.

Predicting when GameStop’s share price could surge at a breakneck pace, several popular posts have penciled in pumps on specific days. While some of them have been nixed by Superstonk’s community moderators, the topic has become a running joke among its members.

A price prediction, for example, stated that GameStop’s share price “will multiply” on Wednesday, pushing past $67 per share. It re-emerged after a user posted a screenshot of the deleted prediction, subsequently garnering 10,000 upvotes and over 1,000 comments.

After becoming a top post within Superstonk over the past week, GameStop’s share price did not surge Wednesday. Pushing as high as $29.58 early in the trading day, GameStop’s share price fell 6.5% thereafter to $27.63 as a foretold short squeeze did not materialize.

“This didn’t age well,” one user commented Wednesday. Another, named Dogetothemoonboii, wrote later that the prediction’s original poster was “just another dumbass.”

Still, GameStop’s stock price has climbed nearly 10% over the past month. And it remains elevated compared to a closing price of $17.46 seen days before Roaring Kitty’s online return back in May.

Roaring Kitty—aka Keith Gill, or DeepFuckingValue on Reddit—posted his last “YOLO update” on Superstonk on June 13, which showed his 9 million GameStop shares were worth $268 million. Based on GamesStop’s current stock price, that position would be worth around $240 million today.

Shifting his attention recently to the pet-products purveyor Chewy, an SEC filing showed Gill purchased around 9 million shares in the firm on June 24. The company was founded by GameStop’s current CEO Ryan Cohen, who served as Chewy’s leader up until 2018.

Gill, who became the de facto face of the retail-led movement to bet big against Wall Street short sellers through GameStop in 2021, hasn’t posted an update in Superstonk for over a month. With his most recent Twitter post made in late June, it’s likely felt among Superstonk’s users.

“I know how much it’s shorted down to the penny,” a post appearing to poke fun at the aforementioned price prediction read with an image of Eric Cartman from “South Park.”

“Please stop with that,” a similarly upvoted post stated, with a meme suggesting it’s been “0 days [since] someone nailed the magic dates” of GameStop’s long-awaited short squeeze.

GameStop’s share price surged as high as $65 amid Gill’s online return in May. It later spiked again in June, hitting a peak of $47.50 in anticipation of the first livestream from the influencer in three years.

During that livestream, Gill spoke carefully about the video game retailer’s prospects while expressing a positive long-term view about GameStop’s ability to transform its legacy business model of selling games and video game consoles in store.

A price prediction posted Wednesday night, however, claimed to be “The Last DD You’ll Ever Need,” referring to the investor research process of due diligence. Floating a specific date later this month as a day that day GameStop’s stock price will fly, the post ultimately received mixed reactions from community members.

“People get mad at these kinda posts, but I appreciate the effort,” one user commented. “ I won’t hold my breath, but if you’re right, then cheers.”

Edited by Andrew Hayward

Source