Which gaming stocks have performed the best so far this year? Here’s a look at the top NASDAQ gaming stocks year-to-date.
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2020 was a remarkable year for growth in the gaming sector. On the back of coronavirus-related lockdown orders, gaming received an influx of attention from widespread users.
This upward trend in the gaming industry is expected to continue in 2021, with mobile gaming as a major force. “Mobile is such a massive driver of gaming now,” said Raj Lala, president and CEO of Evolve Funds Group. His firm oversees the Evolve E-Gaming Index ETF (TSX:HERO).
Although console gaming will remain a bulwark of the gaming industry, video game makers can’t ignore the revenue-generating power of mobile opportunities.
Here the Investing News Network has gathered the three top NASDAQ gaming stocks so far in 2021 by share price performance. Each gaming stock is a US-listed constituent of the Evolve E-Gaming Index ETF; numbers and figures were current as of April 13, 2021, with data taken from Google Finance.
1. Glu Mobile (NASDAQ:GLUU)
Year-to-date gain: 40.11 percent; current share price: US$12.47
First on this list of the top NASDAQ gaming stocks is San Francisco-based Glu Mobile, a leading developer and publisher of mobile games for smartphones and tablets across multiple platforms, including iOS, Android, Amazon, Windows Phone and Google Chrome.
Founded in 2001, the company’s portfolio includes award-winning original and licensed intellectual property titles such as Covet Fashion, Deer Hunter, Design Home, Diner DASH Adventures, Disney Sorcerer’s Arena, Kim Kardashian: Hollywood and MLB Tap Sports Baseball.
Glu became the subject of a US$2.4 billion acquisition by Electronic Arts (NASDAQ:EA) in February, gaining 41.7 percent on the news. While Glu shares about to come off the market, it is a sign for investors that big-name video game makers are seriously eyeing smaller mobile gaming companies.
2. SciPlay (NASDAQ:SCPL)
Year-to-date gain: 37.16 percent; current share price: US$19.93
SciPlay was previously a division within global gaming leader Scientific Games (NASDAQ:SGMS). The mobile gaming company became an independent company in 2019. Today, SciPlay develops and publishes digital games on mobile and web platforms, including casino, casual and bingo games.
The global online casino market is expected to be worth US$127.3 billion by 2027, with a compound annual growth rate of 11.5 percent from 2020 to 2027. According to Grand View Research, increasing adoption of smartphones and easy access to casino gaming platforms are currently driving the market.
In March, SciPlay reported that its total revenue grew by 25 percent in 2020 over the previous year, reaching US$582.2 million; the increase was supported by continued growth in its mobile platform business and by COVID-19 stay-at-home measures. Its fourth quarter revenue increased by 30.3 percent over the prior year period to hit US$147.1 million.
3. Turtle Beach (NASDAQ:HEAR)
Year-to-date gain: 28.03 percent; current share price: US$26.63
Turtle Beach is different from the other two companies on this top NASDAQ gaming stocks list. Instead of making games, it has honed its efforts on console gaming headsets.
Turtle Beach was the first to produce a console gaming headset in 2005, and since then has expanded to create products for all types of gamers, including esports professionals. Turtle Beach originally came to market all the way back in 1975 as Octave Electronics and was focused on music and audio products.
In 2020, Turtle Beach was added to the Russell 3000 Index (INDEXRUSSELL:RUA). The firm is a shining example of how strong the console gaming market remains, even in the face of growth in mobile gaming.
In April, Turtle Beach’s PC brand ROCCAT announced a new partnership with Gen.G Esports, a leading global esports organization. The deal makes ROCCAT the official PC gaming accessories partner for Gen.G’s Overwatch, League of Legends and PUBG teams, as well as its affiliated streamers.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.