GameStop Booms as Roaring Kitty Returns to X: What Does His Tweet Signal Ahead of Q3 Earnings? – GameStop (NYSE:GME)
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GameStop Booms as Roaring Kitty Returns to X: What Does His Tweet Signal Ahead of Q3 Earnings? – GameStop (NYSE:GME)

Posted on by Amelia Pressman

GameStop Corporation GME Stocks rise sharply on Thursday afterward Roaring cat (also known as Keith Gill) posted a new tweet signaling his return to social media.

What happened: Roaring Kitty’s

The image shows a TIME magazine cover with a computer with a video screen. The video pauses at the 1:09 minute mark, for a total length of 4:20. While 420 is easily recognizable in internet culture, the 1:09 could potentially indicate January 9th or something else.

The GameStop short squeeze began in January 2021 and was one of the biggest financial events of the year.

Time’s message could suggest that investors have time to buy GameStop or another stock before a major event. The image of a computer or the video could indicate that GameStop is becoming more involved in video or point to another company.

Images and posts from the account have provided evidence of previous investments and will be heavily investigated in the coming days.

Roaring Kitty’s previous tweets led to high volatility in stocks like GameStop and Chewy Inc CHWY The investor had previously announced a large stake in the animal care company. This is Roaring Kitty’s first tweet since September.

A filing earlier this year revealed that Gill had sold his stake in Chewy, leading to speculation that he might buy GameStop shares again.

Also Read: GameStop Q2 Earnings Highlights: Revenue Drops, EPS Beat, Cash Update and More

What’s next: Tweets from the Roaring Kitty account have sometimes been followed by a series of memes and videos this year. Investors will watch the X account closely to see if follow-up contributions occur.

GameStop will report third-quarter financial results next week on Tuesday, December 10, after the market closes.

According to data from Benzinga Pro, analysts forecast that the company will post a loss of $0.03 per share, compared to the break-even ($0.00 per share) in the year-ago quarter. The company has beaten analysts’ earnings per share estimates in three of the last five quarters.

Analysts expect GameStop to report third-quarter revenue of $887.7 million, compared to $1.08 billion in the third quarter last year. The company has missed analysts’ revenue estimates in four of the last five quarters.

GME price action: GameStop shares have risen 7.9% to $29.18 as of press time Thursday, compared with a 52-week trading range of $9.95 to $64.83. GameStop stock is up 70% year-to-date in 2024.

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Photo: Shutterstock

Overview assessment:

Speculative

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