Unity Software stock is rising after a post from Keith Gill that may or may not have anything to do with the company.

It's a new year, and there's a new hot stock on Wall Street—but not much to explain its sudden volatility. Unity Software jumped as much as 16% early Thursday, before handing back a large part of those gains.

Unity was one of 2024’s worst performing stocks. New social media posts from Keith Gill might boost the stock in the short term, but they won’t fix the company’s game development platform.

Despite a lack of any real news, Unity Software (U) stock went on a tear Thursday morning. It appears to be a result of the latest tweet from Keith Gill, an investor who also goes by “Roaring Kitty.”

Keith Gill, popularly known among traders as "Roaring Kitty," shot to fame during "the meme stock frenzy" that gripped Wall Street in 2021 and triggered an eye-popping rally in GameStop's shares. Gill posted a small clip about late musician Rick James on X,

Unity Software Inc (NYSE:U) shares are trading higher Thursday on the heels of a new post from meme stock trader Keith Gill, also known as "Roaring Kitty."

Unity Software (U) stock is rallying today, after Roaring Kitty's latest social media post seemed to reference the company

Adding to the speculation, Roaring Kitty — the alias of Keith Gill, known for driving the GameStop (NYSE: GME) trading frenzy — posted a short clip featuring the late musician Rick James, who famously recorded a song titled “Unity.”

With 7.8% of Unity’s shares sold short, there could be a significant drop in the stock if it turns out Roaring Kitty’s enigmatic X post is not about Unity Software.

Key Takeaways Unity Software shares jumped Thursday, a day after a social media post by the meme stock hero known as "Roaring Kitty" featuring a clip of the late musician Rick James, who had a song called "Unity.