GameStop gets a holiday boost as Roaring Kitty’s festive post surges stock price

Shares of the popular meme stock GameStop (
GME
) (GME) increased on Thursday afternoon after Keith Gill, the investor popularly known as “Roaring Kitty,”
shared an image of a wrapped Christmas present on X.

While it’s unclear what is inside the gift box, the video game retailer’s fans went on a buying spree on Thursday morning, which helped lift the stock price by 3.5%, bringing it to $32 per share.

Till Thursday mid-morning, more than 4 million people had viewed the post, which received 47,000 likes and 8,800 retweets. This isn’t the first time Gill has posted a vague message or image on Twitter, leaving followers wondering what it means and driving up the stock price.

GameStop’s run as a meme stock
reached its peak in 2021
when a group of small investors, encouraged by the Reddit community WallStreetBets and helped along by an
Elon Musk tweet,
pushed its shares from $3 to $120. Following that, Gill disappeared from Twitter.

Earlier this year,
Gill ended his three-year hiatus with a tweet in May.
He posted a picture on X featuring a gamer leaning forward in a chair,
which suggested intense focus.
This prompted speculation among his followers that he might return to Reddit.

Shares of the company are up nearly 94% year-to-date. Earlier this month, GameStop reported its latest quarterly results,
which showed a decline in sales.

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