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In a formula that you've seen one thousand times before, we get a themed slasher around a date, a plethora of red herrings and a telegraphed and an obvious murderer that makes for a fairly mundane time.
The first thing one will notice about Graduation Day is the decision to base the killings all around high school sports - while knowing absolutely nothing about high school sports. The second thing one will notice is who the killer is, within minutes of the movie starting. The third thing one will notice is the gibberish "teen" dialogue. Finally, you'll notice how unbelievably bad every piece of the film actually is.