- GameStop stock surged after Roaring Kitty (Keith Gill) posted a cryptic tweet, his first since September.
- The tweet featured an image of a TIME magazine cover with a video paused at 1:09 out of 4:20, potentially hinting at upcoming events related to GameStop or another company.
- GameStop reports Q3 earnings next week on December 10th, with analysts expecting a loss per share but higher revenue compared to the previous year.
A recent tweet from popular investor Roaring Kitty has created a buzz in the financial world and led to a surge in GameStop shares. The tweet, the first from the account since September, has left the investing community speculating about its possible implications.
The Return of Roaring Kitty and the Impact on GameStop Shares
Shares of GameStop Corporation experienced a significant upsurge following a new tweet from the social media personality known as Roaring Kitty, or Keith Gill. The tweet, posted on platform X, sparked excitement among the investor’s 1.6 million followers and the wider financial community. The tweet featured an image of a TIME magazine cover showcasing a computer with a video screen paused at 109 minutes out of a total length of 420 minutes. The meaning of these numbers and the image as a whole has triggered a flurry of speculation. Some believe it could be hinting at a significant event on January 9th, while others interpret it as a signal for investors to purchase GameStop shares or another stock.
Past Influence of Roaring Kitty’s Social Media Activity
Roaring Kitty’s tweets have previously caused notable volatility in stocks such as GameStop and Chewy Inc., with the investor having disclosed a large stake in the pet care company. A regulatory filing earlier this year revealed that Gill had sold his Chewy stake, prompting speculation that he might be accumulating GameStop shares again.
What to Expect in Light of the Recent Tweet
Historically, Roaring Kitty’s tweets have often been accompanied by a series of memes and videos. As such, investors are keenly observing the X account for any follow-up posts. Adding to the anticipation is the upcoming release of GameStop’s third-quarter financial results on Tuesday, December 10th. Analysts predict a loss of $0.03 per share, a drop from the break-even EPS in the same quarter last year. Analysts also project third-quarter revenue of $887.7 million, a decrease from last year’s $1.08 billion in the same quarter.
GameStop’s Stock Performance
At the time of publication, GameStop stock was up by 7.9% to $29.18, with a 52-week trading range of $9.95 to $64.83. The stock has seen a year-to-date increase of 70% in 2024.
Conclusion
To summarize, the recent tweet from Roaring Kitty has led to a significant surge in GameStop’s stock price. With the investor’s history of influencing market trends and the upcoming release of GameStop’s financial results, investors are closely watching for any new developments.
