GameStop Stock Surges To Six-Month High As Roaring Kitty’s ‘Christmas Present’ Sparks Retail Buzz

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.

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.

GME sentiment meter and message volumes on Dec 26

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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