In a surprising turn of events, GameStop Corp (NYSE:GME) shares saw a pre-market increase of 2.36% on Thursday, as per Benzinga Pro. This uptick followed a social media post by Keith Gill, also known as "Roaring Kitty" who was instrumental in the 2021 GameStop stock surge.
What Happened: Gill's recent post included a GIF of Dave Chappelle impersonating Rick James, which stirred speculation among retail investors about its potential market implications. This post is part of Gill's ongoing return to social media after a three-year hiatus that began in May. His earlier posts last year were linked to a notable 50% rise in GameStop's stock value.
pic.twitter.com/TSq9cwyJx1
— Roaring Kitty (@TheRoaringKitty) January 2, 2025
According to Benzinga Pro, GameStop closed at $31.34 which is higher than both its eight-day and 50-day moving averages. It has a consensus price target of $10, as rated by one analyst, Wedbush. The analyst's ratings, dated Sept. 11, and earlier, suggest an average target of $9.33, which implies a potential downside of 70.98% from current levels.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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