Markets may be plunging.
But there’s still a good deal of opportunity to be found.
Look at video game stocks, for example.
Since Microsoft (MSFT) announced it wants to acquire Activision Blizzard (ATVI) in an all-cash $68.7 billion deal, gaming stocks have been on fire. All on speculation we could potentially see newer deals in the weeks to come.
In fact, as noted by Wedbush analyst Dan Ives, “It’s going to start a major ripple effect in terms of consolidation for other videogame publishers,” as quoted The Wall Street Journal.
Especially as video game popularity explodes, including those with a gateway to the metaverse.
“Microsoft’s purchase of Activision will accelerate more deals in the industry, analysts said, as big tech companies seek to broaden their consumer offerings by acquiring game publishers and developers that attracted players during the pandemic. Microsoft’s purchase of Activision, which owns the Call of Duty, World of Warcraft and Candy Crush franchises, would also help the company edge into the streaming and metaverse spaces,” added WSJ.
That news could create interest in stocks such as:
Roblox Corp. (RBLX)
Roblox is already viewed as a pioneer in the metaverse space, with its social interaction, gaming, and spending in virtual worlds.
While the stock slipped over the last few weeks, don’t count it out just yet. Analysts at Needham just initiated coverage of the stock with a buy rating and a price target of $136.
“We do not believe investors need to dream the dream of the long-term metaverse to be bullish on shares, rather there is a path for continued user and engagement growth globally and monetization should follow,” according to the firm, as quoted by Barron’s. “That said, we see an enormous potential opportunity for the platform provider(s) of the metaverse.”
Take Two Interactive (TTWO)
CEO Strauss Zelnick told CNBC, “We’re probably the biggest metaverse company on Earth.”Plus, analysts at Jefferies Group once noted, “Take Two’s IP Grand Theft Auto, Red Dead Redemption, and NBA2K are already on the road toward a “Metaverse”. They lack a true economy and many of the attributes needed today to be a Metaverse, but they have high social engagement, brand crossovers, and the start of an economy that makes sense,” as noted by Insider Monkey.
Electronic Arts (EA)
Electronic Arts could be set to jump into the metaverse, too.
According to MarketWatch, “Electronic Arts is looking to make a grand entrance in the metaverse and crypto space by bringing some of its top games to the Encrypted with cloud gaming service, starting with Battlefield, The Sims SimCity, Fifa: Inquisition and Apex Legends. In a related development, EA is launching the Metaverse MVEA1, designed to allow gamers even without a gaming PC to play in metaverse mode, including over 1 billion underpowered PCs and incompatible devices such as phones, tablets, and Chromebooks.”
February 7th, 2023Is The Stock Market Cycle Pointing To A New Bull Market Already?Are we in another bear market rally or the start of something new? That’s what everyone wants to know, especially as we
February 6th, 2023Job Creation Shocks The MarketIf we’re heading into a recession, how were we met with better-than-expected job growth numbers last week? Unemployment dropped, despite the headlines of tech companies planning to lay off
February 3rd, 2023Job Cuts And Stock Buybacks Keys To Success In 2023 The thing I’ve learned from this earnings season is that a company can have consecutive quarterly drops in revenue and provide a lower
February 2nd, 2023Fed Raises Rates But Bulls Are Still In ControlOk, bulls. You win. I will start lifting my bearish stance on the market. Despite the final 10-minute market sell-off and a Dow that finished
February 1st, 2023What Past Fed Announcements Tell Us The Market Will Do TodayWatch out - this article is going to have some math.Here we are once again on Fed Announcement day. Most of the folks
January 31st, 2022The Hidden Profits Of 2023There is still one more trading day left in January, but if the adage “as the S&P 500 goes in January, so goes the year” holds true, the markets
January 30th, 2022 The Fed Goes Up Against Earnings This Week We are in peak earnings season with some heavy hitters like Pfizer (PFE), Snap (SNAP), Meta Platforms (META), Amazon (AMZN), Alphabet (GOOGL), and Apple
January 17th, 2022Smoother Sailing in 2023 Nothing has changed since the end of 2022, yet traders have already decided that this year won’t be as bad as the last. Bulls have been piling into stocks
January 12, 2023 The Rise Of Bing Over Google - That’s No Joke Before we talk about two tech giants getting ready to battle it out once again, let’s look at the overall market. The
January 9th, 2022 Why I Ignore Most Of The News It’s easy to get caught up in the financial headlines. I’ve certainly done it. Last week shows why I ignore most day-to-day stories. I know
267 Kentlands Blvd #225
Gaithersburg, MD 20878
P. (866) 257-3008
(Monday-Friday 9:00 AM-5:00 PM EST)
Publisher of actionable and proven strategies and tactics to help investors build wealth and reach seven-figure portfolios.
Get notified about new articles, special events, training, and much more