GameStop (GME) – Get report turned around and started to rise on Wednesday after short-seller Citron Research said it was rubbing its bearish live broadcast call because it did not want to interfere in the presidential inauguration.
The shares of Grapevine, Texas, on the last check, rose almost 1% to $ 39.72. The stock had dropped earlier in the session.
Citron said on Wednesday that he would hold a conference call at 11:30 am ET and “will broadcast the 5 GameStop reasons live $ GME buyers at those levels are the suckers in this poker game. “
“The stock returns to $ 20 quickly,” said the company. “We understand the short-term interest better than you and we will explain. Thanks to viewers for the pos feedback in the last live tweet.”
GameStop’s shares rose on Tuesday, despite the negative forecast.
At 11:09 am on Wednesday, however, Citron Research announced on Twitter that it would not go ahead with the lifestream.
“$ GME it’s still going for $ 20 easily, but Citron doesn’t want to go live in the middle of a historic presidential inauguration, “said Citron.” We respect the presidential office and the whole country and we will not interfere with market comments. We are looking forward to the live broadcast of the tone. Gold Bless America. “
Joseph Biden and Kamala Harris took office as president and vice president, respectively, on Wednesday, after the official end of Donald Trump’s term.
GameStop did not respond to a request for comment, but several people expressed their feelings on Twitter.
“So when you announced yesterday, you didn’t know about the opening schedule.?” said a commentator. “I smell BS.!”
“Hahahahahhaa you can only be kidding me,” said another.
Another commentator sarcastically wrote, “Yes, an event that happened 4 years ago on the same day was completely unexpected.”
GameStop recently appointed three new directors as part of its deal with RC Ventures, the company’s second largest shareholder.
One of the directors is Ryan Cohen, who runs RC Ventures. Cohen founded and served as chief executive of pet products supplier Chewy (CHWY) – Get report. He led the company in the sale of $ 3.3 billion to PetSmart.
In December, Citron Research published a report calling DoorDash (TRACE) – Get report the “most ridiculous IPO of 2020.” Shares in the San Francisco food delivery company fell 2.3% to $ 194.15 recently.