GameStop Stock Surges To Six-Month High As Roaring Kitty’s ‘Christmas Present’ Sparks Retail Buzz
By Stocktwits Inc | First Published Dec 27, 2024, 12:51 AM ISTRetail sentiment on Stocktwits turned ‘bullish’ compared to ‘bearish’ a month ago.
Shares of GameStop Corp ($GME) rose more than 4% on Thursday after a cryptic post about Christmas from Roaring Kitty surfaced, setting retail activity abuzz.
GameStop's stock was at $32.76 per share, the highest in over six months.
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On Wednesday, Roaring Kitty posted a picture of a Christmas present, sparking speculation about its possible intent. The post on X, formerly known as Twitter, had garnered more than 4.1 million views as of Thursday afternoon.
GameStop became a popular meme stock in 2021 after Elon Musk, along with a group of investors and a Redditor community, boosted its shares to $120 from $3.
Retail sentiment on Stocktwits turned ‘bullish’ compared to ‘bearish’ a month ago. Meanwhile, message volumes were at ‘high’ levels compared to ‘low’ in the same period.
A Stocktwits poll asked users for their end-of-year price predictions for GameStop. About 42% of them pegged the stock to end the year between $30 and $50, and about 23% thought it could cross $100.
GameStop reported mixed results for its fiscal year 2024 third quarter recently.
Its earnings per share (EPS) stood at $0.04, compared to the year ago's break-even results. Its net sales fell 20.22% year-over-year to $860.3 million, below the consensus estimate of $887.68 million.
GameStop stock is up 97% year-to-date.
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