Shares in the videogame engine developer caught fire on Thursday after a cryptic social media post by Keith Gill, the online investor better known as Roaring Kitty.

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.

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.