Nov 13, 2023
Expert picks video game stocks positioned for a rebound
, BNN Bloomberg
Hot Picks: Three digital media stocks to buy in the growing mobile gaming sector
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Video game stocks have fallen since their peak during the COVID-19 pandemic lockdowns, but one investment expert says the sector is positioned for a comeback.
Nick McKay, vice president of equity research at Wedbush Securities, told BNN Bloomberg on Monday that while this sector has been beaten down coming out of COVID, the companies have adopted to a changing climate and posted positive earnings this season.
“It’s a sector that’s been a little beaten down coming out of COVID, coming out of some of the macro-slowdown that we saw in the back half of last year,” he said. “But if you look at … the video game stocks that we cover, you see these stocks rebounding.”
McKay selected AppLovin Corp. (APP), Roblox Corp. (RBLX) and Take-Two Interactive Software Inc. (TTWO) as his top three picks within digital media.
McKay, his family, his firm and his investment banking clients do not own any shares in the stocks mentioned above.
For the full interview, click on the video at the top of this article.
Nick McKay, vice president of equity research at Wedbush Securities, told BNN Bloomberg on Monday that while this sector has been beaten down coming out of COVID, the companies have adopted to a changing climate and posted positive earnings this season.
“It’s a sector that’s been a little beaten down coming out of COVID, coming out of some of the macro-slowdown that we saw in the back half of last year,” he said. “But if you look at … the video game stocks that we cover, you see these stocks rebounding.”
McKay selected AppLovin Corp. (APP), Roblox Corp. (RBLX) and Take-Two Interactive Software Inc. (TTWO) as his top three picks within digital media.
McKay, his family, his firm and his investment banking clients do not own any shares in the stocks mentioned above.
For the full interview, click on the video at the top of this article.
