GameStop (GME) stock surged 5.27% in pre-market trading on Thursday, following a tweet from the infamous "Roaring Kitty," the alias of Keith Gill, who played a pivotal role in the 2021 meme stock frenzy that saw GameStop's shares skyrocket.
Gill, who had been relatively quiet on social media for the past three years, resurfaced on Christmas Day with a cryptic tweet featuring a neatly wrapped gift. While the message itself was vague, it was enough to reignite interest among his loyal followers and trigger a pre-market rally in GameStop's stock price.
The video game retailer's shares have been on a rollercoaster ride since the 2021 short squeeze, which saw retail investors band together to challenge Wall Street's short-sellers and drive GameStop's stock to unprecedented heights. While the company has struggled to reinvent itself in the face of intense competition from online gaming platforms, it remains a favorite among meme stock enthusiasts, who continue to trade the stock based on social media trends and chatter.
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