Unity Software Stock Is Surging Thursday: What's Going On?

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

What Happened: Gill’s latest post on X has sparked speculation that the trader could be planning to invest in shares of Unity Software.

Roaring Kitty posted a short clip of comedian and actor Dave Chappelle impersonating musician Rick James on Wednesday. The meme often includes the word “Unity” overlayed on the image, which has helped push shares higher in early trading. “Unity” is also the name of a James song from the 1980s.

Check This Out: ‘Roaring Kitty’ Keith Gill Sparks Speculation With Rick James-Themed Post On X: GameStop, Chewy Shares In Focus — Unity Software Pops 12%

Gill’s New Year’s Day post comes a week after he posted an image of a wrapped gift in traditional Christmas colors last Wednesday while markets were closed. Meme stocks rallied last week on the back of the post, led by shares of GameStop Corp GME, as traders tried to anticipate Roaring Kitty’s next move.

Gill expanded his investment horizon earlier this year when he took a position in Chewy Inc CHWY. He telegraphed the move by posting a picture of a dog on X before disclosing a 6.6% stake in the pet retailer a few days later. The trader then dumped his entire position in September.

Meme stocks began heating up again in early December after Gill posted an image of a TIME magazine cover featuring a blank computer screen and a video player paused at the 1:09 mark of a 4:20-long video. The wrapped gift image had been the only other recent post from Roaring Kitty until Wednesday’s short clip.

There has been a lot of speculation about what Roaring Kitty could be planning across Reddit's r/WallStreetBets and Stocktwits, but for now most appear to believe he’s targeting Unity Software stock. It’s not clear if the post actually has anything to do with Unity Software.

U Price Action: Unity shares were up 14.6% at $25.75 at the time of publication Thursday, according to Benzinga Pro.

Photo: Shutterstock.