GME: GameStop Is Hot Again as Stock Jumps 6%. The Reason? Roaring Kitty Tweeted.

The man, the myth, the market-moving legend — Keith Gill tweeted out a photo of a present without words. And GameStop shares took off.

• GameStop stock GME shot up 6% Thursday powered by another mysterious tweet from the company’s biggest hype man, Roaring Kitty. Keith Gill, the retail trader behind the Reddit-native moniker, broke his silence on X when he posted a photo of a present without saying anything. And just like that, a few billions were added to GameStop’s market valuation. The video-game retailer is up 100% this year but all that gain is mostly driven by a speculative frenzy.
• GameStop’s business is waning and it shows — annual sales have been on the decline for the past five quarters. The company is expected to post another revenue-shrinking quarter when it drops its earnings update in January. Revenue for the three months to December is expected to fall to $1.48 billion from $1.79 billion. Earnings could take an even bigger hit, projected to slump more than 60% year over year.
• But Roaring Kitty is doing his part to buoy the shares higher. He’s been out and about, trying to jump start a share-price recovery that has little to do with fundamentals. In reality, it’s all froth, aspirations and hot air. GameStop has $10 a share in cash, which makes it difficult for the company to take a new line of business or even expand its existing retail business. In short, there are many challenges ahead and it will take more than a couple of tweets to save the shares.