GameStop's stock price experienced a significant increase following a social media post from Keith Gill, known as "Roaring Kitty". | Credit: Michael M. Santiago/Getty Images
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Key Takeaways
A new Roaring Kitty’s post on X fueled GameStop stock price.
It’s not the first time Keith Gill has boosted the sentiment over GME stock with just an image on a social platform.
However, analysts are not optimistic about the future of GameStop shares.
GameStop shares surged on Thursday after Keith Gill posted a cryptic image of a wrapped Christmas gift on X.
The post was viewed millions of times and ignited a buying frenzy, sending GME stock prices sharply higher.
However, despite the recent surge, Wall Street analysts aren’t very confident about the future trajectory of GME stock.
While the box’s contents remain unclear, the post sparked a buying frenzy, lifting the stock to $32 per share.
GameStop stock performance after Roaring Kitty’s post on X. | Credit: Yahoo! Finance
By mid-morning on the same day, the tweet had been viewed over 4 million times, receiving 47,000 likes and 8,800 retweets.
GameStop shares are up nearly 94% year-to-date, though the company reported a decline in sales earlier this month.
GameStop’s meme stock surge peaked in 2021 when Reddit’s WallStreetBets, along with an Elon Musk tweet, helped push its shares from $3 to $120.
Roaring Kitty Does It Again
This is not the first time Gill’s cryptic posts have driven up the GME stock price.
In May this year, Roaring Kitty’s return to social media after the 2021 saga reignited the meme stock euphoria for GameStop and AMC Entertainment on Wall Street.
His post-hiatus social media post sparked a buying frenzy, sending GameStop stock up by 110% and adding $6 billion to its market capitalization in a few hours.
For the fourth quarter of 2024, GME’s earnings are estimated at $0.08 per share, ranging from $0.07 to $0.09. This is an increase from the previous quarter’s EPS of $0.06.
Analysts expectations for GameStop stock price. | Credit: TipRanks
Over the past year, GME has met its EPS estimates 50% of the time. The gaming industry has instead exceeded EPS estimates 57% of the time.
Sales for the Q4 are forecasted to reach $1.48 billion, with a range of $1.45 billion to $1.50 billion. In the previous quarter, sales were $860.3 million.
GME has not met its sales estimates in the past year, while its industry has exceeded sales estimates 55% of the time.
Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
