It's a new year, and there's a new hot stock on Wall Street—but not much to explain its sudden volatility. Unity Software jumped as much as 16% early Thursday, before handing back a large part of those gains.

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

Unity was one of 2024’s worst performing stocks. New social media posts from Keith Gill might boost the stock in the short term, but they won’t fix the company’s game development platform.

Key Takeaways Unity Software shares jumped Thursday, a day after a social media post by the meme stock hero known as "Roaring Kitty" featuring a clip of the late musician Rick James, who had a song called "Unity.

With 7.8% of Unity’s shares sold short, there could be a significant drop in the stock if it turns out Roaring Kitty’s enigmatic X post is not about Unity Software.