Too many new shares for it to rip. And if it pops at all buyers risk Cohen dumping more new shares in an ATM next day. Its over.
Keith Gill is going to hold on to his shares again, and lose big this time. His $20 calls are melting away, two weeks left before they expire and odds are they'll be worth less than what he paid ($5.68). In a few months his shares (basis $21.27) will almost certainly be underwater. There will be little to hold this up over $5 a share when all the burned retail buyers flee, it's going to trade down close to its cash value.
GME is no longer a business, it's a stock sale machine. It's ironic how much Gill praised Cohen on the live stream as Cohen was burning down Gill's position. Gill should have taken Buffett's most important quote to heart before this. He's going to end up losing a lot of money and something even more valuable to monetize, the love of millions. He'll be a pariah in the future.