MemeMoney: GameStop stock pops thanks to Ryan Cohen’s ‘small wee wee’
Ryan Cohen might have “a small wee wee” or he might have the opposite of “a small wee wee,” but one thing is certain: there’s a lot of talk of the chairman’s “small wee wee” and GameStop’s
stock is up big.
At roughly 1 a.m. EST on Monday, the 30-something Chewy co-founder, turned activist investor, turned GameStop chairman, tweeted “eew eew llams a evah I,” which spelled backward reads “I have a small wee wee.”
As we’ve talked about in the past, fundamentals can be fun, but nothing moves GameStop shares like an inscrutable tweet from the company’s perceived savior turned actual chairman.
In the past year, Cohen’s habit of sending out apparently absurd tweets—like his own tombstone reading “RIP Dumbass,” a series of face swaps to make him look like Victoria’s Secret runway models, and the most recent provocation of “MGGA”—has almost uniformly resulted in a move upward for GameStop shares.
Reactions on social media and in the market to Cohen’s tweet on the diminutive size of his “most private allocation” were frothy and immediate.
“emaS” replied meme stock influencer Matt Kohrs on Twitter.
“Hsillub,” added fellow retail investing celebrity Trey’s Trades, both accounts obviously using the backward structure to voice their support of Cohen’s admission/brag/news alert.
Many of Cohen’s twitter followers took the backwardness of everything as a signal that Cohen was trying to communicate the opposite meaning, for example, engaging in some public self-care by spending the twilight of Monday morning doing a public affirmation that he indeed has a large “wee wee.”
By midday, GameStop shares had climbed up as high as 4.2%, before trimming that advance.
On Reddit, a more structured, colorful and basic cable-y theory of Cohen’s backward wee wee tweet took hold.
According to a post by user Kopheus on subreddit r/GME, the phrase “I have a small wee wee” comes from an episode of the animated TV Series “South Park,” and is said by the teacher character Mr. Garrison, while standing under an alphabet chart that has been edited to spell out the show’s catchphrase: “Oh, my God, they killed Kenny!” in Spanish.
While that might sound as outlandish as a grown man with millions of dollars pumping shares of a videogame retailer by saying he has a small dong in backward text, it actually [what is happening to us?] makes sense upon further review.
The notion of “killing Kenny” is quite popular among Reddit’s base of GameStop Apes who have made Citadel founder Ken Griffin into their prime enemy, re-christening him as “Kenny G” or simply “Kenny.”
And Cohen’s tweets have referenced South Park on multiple prior occasions. In fact, a Cohen tweet from Aug. 11 appears to reference the very same episode that has Reddit humming.
GameStop stock was down more than 7% at the end of last week, and there does not appear to be much news coming out of the company—still no sign of Cohen’s master plan being revealed—so a cryptic call to action on Twitter is not a bad idea, especially as it’s worked for him before.