Video Game Stocks Falling Except for EA
LEIPZIG, GERMANY - AUGUST 18: People visit the Electronic Arts area at a Computer Gaming Convention on August 18, 2005 in Leipzig, Germany. The convention is Germany's largest fair for interactive entertainment, hardware and educational software. (Photo by Andreas Rentz/Getty Images)
Stocks for Electronic Arts (EA) and Take-Two fell 13.1% and 13.8% respectively. Meanwhile, Activision Blizzard fell 10.1% However, following the weekend success of APEX Legends, EA’s stocks have soared, making up the losses from last week and then some. EA stock went up 16% with news of APEX Legends.
A year ago, financial analysts began to predict that Fortnite’s insane popularity and money model would begin to erode the traditional games industry. That didn’t seem to hold true in 2018 until around the last quarter and especially into the first quarter of 2019. Some of the monster successes of the year like Spider-man, RDR2, and God of War may have delayed it.
News Source: Investor’s Business Daily
Photo by: Andreas Rentz/Getty Images