Unity Software Shares Surge After Roaring Kitty’s Cryptic Post
Unity Software’s stock jumped nearly 10% after a mysterious social media post by ‘Roaring Kitty’ reignited interest in the company
Unity Software, Roaring Kitty, GameStop, Rick James, Video Games, Bengaluru, India
Bengaluru: So, Unity Software’s shares shot up almost 10% on Thursday. This happened after a cryptic post from Keith Gill, aka ‘Roaring Kitty,’ on X got everyone buzzing. It’s been a tough year for Unity, so this was a nice surprise.
Remember Roaring Kitty? He became a big deal during the meme stock craze back in 2021, especially with GameStop. His latest post was a short clip about Rick James, who has a song called “Unity.” That got folks interested in Unity’s stock again.
If this trend keeps up, Unity could see its market value jump by over $700 million. On the first trading day of 2025, shares even hit $26. Art Hogan, a market strategist, mentioned that the meme stock crowd is back at it, reacting to Gill’s post.
Last year was rough for Unity, with shares dropping about 45%. They introduced a “runtime fee” pricing policy that didn’t sit well with game developers, leading to a lot of backlash. They had to scrap it the following year.
Many game creators, including those behind hits like “Pokemon Go” and “Hearthstone,” rely on Unity’s software. The company also laid off about 25% of its workforce last year, following an 8% cut in 2023, all in an effort to get back to profitability.
Gill, who once held a stake in Chewy, sold it all off last year. And after a lackluster livestream in June 2024, GameStop’s stock took a hit. Some experts, like Thomas Hayes, think people should be careful with these meme stock games, as they often lead to disappointment.