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.

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."

Given its past, GME is highly sensitive to speculation, especially as it's still heavily shorted. Short interest makes up 7.6% of the stock's available float, and would take shorts three days to cover, at the stock's average pace of trading.

Unity Software (NYSE:U) shares jumped more than 8% in premarket trading Thursday following a block trade of 1.32 million shares valued at $29.7 million on Tuesday night. Social media activity surrounding the company has surged,