GameStop Jumps on Roaring Kitty's Gift Box Tease--Meme-Stock ...

Following a cryptic tweet from Keith Gill, sometimes known as "Roaring Kitty," a well-known player in the retailer's meme-stock narrative, GameStop (NYSE:GME) shares surged more than 3% in pre-market trade Thursday.Gill, whose participation in the GameStop trading frenzy brought him great notoriety, posted on his X (previously Twitter) account Wednesday without explanation a picture of a packed gift box.

Viewed over 3.8 million times, the post prompted hundreds of reactions, likes, and retweets as well as conjecture among its followers. Though it stays below highs reached in past meme-stock rises, GameStop's stock has climbed almost 80% in 2024. The company revealed a drop in revenue for its most recent quarter earlier this month, but it turned to a net profit to grab investor interest.

Gill's post's ambiguous character left its meaning open to interpretation, but it excited retail traders who still link his behavior with possible swings in GameStop's stock. For meme-stock aficionados attentively tracking any corporate progress, the retailer continues to be a focal point.

This article first appeared on GuruFocus.