Ryan Cohen is no stranger to sharing short cryptic tweets to his 200,000+ Twitter Inc (NYSE:TWTR) followers. On Sunday, the Chairman of GameStop Corp (NYSE:GME) was back at it with a short tweet being dissected by investors.
What Happened: On Oct. 31, Cohen sent the simple tweet of “MGGA.”
MGGA
— Ryan Cohen (@ryancohen) October 31, 2021
This marked the first tweet from Cohen since Oct. 26 when he shared a picture of a small man pushing a Sumo wrestler.
So what does MGGA actually mean?
Related Link: Ryan Cohen Pulls Undercover Boss On GameStop Stores, Wants To Invest In Physical Locations
MGGA: The most likely explanation to the one-word phrase from Cohen is the four letters being an acronym for "Make GameStop Great Again," a nod to the popular acronym of Make America Great Again used as a campaign phrase and rally cry by former President Donald Trump.
While it unlikely, perhaps Cohen is creating his own investing acronym similar to FAANG, a popular basket of technology stocks Facebook Inc (NASDAQ:FB), Apple Inc (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN), Netflix Inc (NASDAQ:NFLX) and Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL), formerly known as Google.
With Facebook rebranding as Meta last week and a new ticker coming to MVRS, some have started drafting new acronyms that would include top names to put into a basket of high-growth technology stocks.
Jim Cramer, who coined the FAANG acronym, created a new acronym and took out Netflix. Tesla Inc (NASDAQ:TSLA) and Microsoft Corp (NASDAQ:MSFT) were among Cramer’s favored names for the new acronym.
Cohen’s MGGA acronym could suggest he thinks GameStop is on the same level as other high-growth names. Perhaps Cohen thinks Meta, GameStop, Google and Apple (or Amazon) are the four stocks investors should own.
GME Price Action: GameStop shares closed at $200.18, up 9% on the day. This marked the first time shares closed above $200 since September.
Photo: Will Buckner on Wikimedia