Unity Software Inc. (U) is experiencing a rise in its stock price, which can be attributed to a wave of speculation surrounding meme stocks. A cryptic post by retail investor Keith Gill, known as "Roaring Kitty," has sparked significant interest and trading activity. The post, featuring a Time magazine cover with a blank computer screen, has led to varied interpretations among traders, resulting in increased options activity and a surge in Unity's stock price. This development has drawn considerable attention, marking Gill's first post since September and fueling speculation in the meme stock community.
In addition to the meme stock speculation, institutional interest in Unity Software has been notable. Weiss Asset Management LP recently acquired a new position in Unity Software, purchasing 456,903 shares valued at approximately $10,335,000. This acquisition, along with other institutional investors modifying their holdings, indicates a growing interest in the company.
Unity Software's stock is currently priced at $28.16, reflecting a 1.91% increase from the previous close of $27.63. The stock reached a high of $28.50 and a low of $25.94 during pre-market trading.