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                                  EXHIBIT 23.1

               CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

      We consent to the incorporation by reference in the Registration Statement
(Form S-8), pertaining to the 1996 Equity Incentive Plan, Non-Plan Stock 
Options, 1996 Non-Employee Directors' Stock Option Plan and the Employee Stock
Purchase Plan of Hot Topic, Inc. of our report dated March 19, 1996 (except as
to the penultimate paragraph of Note 5, and the second, fifth, sixth and seventh
paragraphs of Note 6, as to which the date is July 23, 1996) with respect to the
financial statements of Hot Topic, Inc. included in the Registration Statement
on Form SB-2 (No. 333-5054-LA) filed with the Securities and Exchange
Commission.


                                                 ERNST & YOUNG LLP


San Diego, California
October 4, 1996