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Shares of GameStop Inc. were among the top five trending tickers on Stocktwits early Monday. With no clear catalyst, the retail trading community speculated on whether the stock could stage a rebound this week, amid chatter about the possible return of commentator Keith Gill, known as “Roaring Kitty.” Gill famously fueled GameStop’s historic 2021 rally and sparked another surge three years later when he reappeared on social media after a prolonged hiatus.
Investors hoping for a turnaround in GameStop, once the market’s premier meme stock, were left disappointed last year. As its core business weakened and more stores were shuttered, GME ended the year down 36%, marking its worst performance since 2022.
To be sure, there have been pockets of optimism. Some investors point to GameStop’s cost-cutting efforts, expansion into new areas such as games-related merchandise, and a growing cash reserve that includes nearly 5,000 bitcoins.
Despite trending, the GME ticker had a ‘bearish’ sentiment reading on Stocktwits, unchanged from the past week.
“$GME company is beyond profitable and still sitting at almost 17 percent short interest,” a user posted, with an emoji showing a man shrugging his shoulders with palms up.
Another struck an optimistic tone: “I am looking forward to what this week/month brings. Holding strong with 12k shares. To the new year and new opportunities.”
In November, “Big Short” fame investor Michael Burry posted a previously unseen 2019 letter from Gill backing Burry’s then-recent comments regarding GameStop. Burry, a GameStop shareholder, had written to the company’s board, urging it to aggressively do buybacks and reduce senior management pay, among other suggestions.
In 2021, Gill rallied behind GameStop, sending its stock up multifold. “We just hold until something happens, until kitty comes back…a run to 60. It will happen, it’s just a matter of when,” a Stocktwits user posted on the weekend.
GME closed at $20.62 on Friday, a nearly 52-week low.
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