MW Unity Software stock is rallying. Roaring Kitty posted a meme. They may or may not be connected.
By Steve Goldstein
Meme-stock investing is continuing into the new year.
Unity Software stock $(U)$ rallied 7% in premarket trade. There has been no new fundamental news about the company, which has a platform for game developers and filmmakers to make 3-D content.
But there was this post from Roaring Kitty, also known as Keith Gill, the investor who famously led the GameStop revolution.
It's just a short clip of the late musician Rick James, who once made a song called "Unity."
Unity Software has had a tough 2024, with its stock losing 39%, a period in which rival AppLovin (APP) soared 747%.
As with anything Roaring Kitty related, the post might not be anything to do with Unity the company, and could instead be a general message to stay together, or something else entirely.
The Rick James song "Give It To Me Baby" includes the lyric, "I say, 'wait til I squeeze you,'" sung in reference to a desired partner but a phrase that could have an alternative meaning for an investor seeking to buy a heavily-shorted security.
GameStop shares $(GME)$ rose 3% in premarket trade.
-Steve Goldstein
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(END) Dow Jones Newswires
January 02, 2025 05:06 ET (10:06 GMT)
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