Top 3 NASDAQ Gaming Stocks of 2023

Gaming Investing
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Which gaming stocks have performed the best so far this year? Here’s a look at the top NASDAQ gaming stocks year-to-date.

The gaming sector has demonstrated remarkable growth over the past few years, and its momentum has brought some NASDAQ-listed gaming stocks along for the ride.

The global gaming market was worth US$202.7 billion in 2022, according to IMARC Group, and is expected to grow at a compound annual growth rate of 9.08 percent from 2022 to 2028, reaching a value of US$343.6 billion.

Driving this trend are new converts who joined the gaming world during the pandemic, plus emerging technologies like cloud gaming, which allows users to stream games without the need for specific gaming hardware. Advanced graphics and immersive technologies like virtual and augmented reality are also anticipated to push the market to new heights.

Below the Investing News Network has gathered the top three NASDAQ gaming stocks with the best year-to-date performance in 2023. Data was compiled using TradingView’s stock screener on March 28, 2023.

1. Motorsport Games (NASDAQ:MSGM)

Year-to-date gain: 27.27 percent; current share price: US$5.60

Florida-based video game developer and esports event organizer Motorsport Games is a leader in racing games and esports. Through its acquisition of 704Games, the company publishes the NASCAR Heat franchise; for the 2021 iteration it was rebranded as NASCAR: Ignition. Motorsport Games' development teams are working to bring new games to market based not only on NASCAR, but also on Le Mans and the British Touring Car Championship, although the latter has been delayed from 2022 to 2024.

In terms of esports events, Motorsport Games has run a handful of events for different racing sims. Recently, a YouGov Sport report showed that during the five round Le Mans Virtual Series, which ran from September 2022 to January 2023, cumulative TV, OTT and digital audience figures reached over 8.5 million worldwide. The season finale, a 25 hour TV special, was seen in 68 broadcast markets across four continents on channels such as Eurosport, CNBC, Fox/Disney and Motor Trend. While there were "serious technical issues" during the finale, Motorsport Games said the previous rounds went off without any major problems.

2. Playtika Holdings (NASDAQ:PLTK)

Year-to-date gain: 24.83 percent; current share price: US$10.73

Headquartered in Herzliya, Israel, Playtika Holdings was among the first mobile gaming entertainment companies to offer free-to-play social games on social networks and on mobile platforms, according to the company. Today, Playtika has a diverse portfolio of game titles accessed by more than 31 million monthly active users.

Playtika has built its mobile entertainment platform through strategic acquisitions aimed at increasing its breadth of entertainment genres and leveraging its Boost platform to enhance game operations. Furthering that strategy, last year the company announced the acquisition of JustPlay.LOL, the creator of the multiplayer game 1v1.LOL.

3. Corsair Gaming (NASDAQ:CRSR)

Year-to-date gain: 22.98 percent; current share price: US$16.92

California-grown Corsair Gaming is one of the biggest manufacturers of PC gaming gear and hardware. Its products include gaming headsets, keyboards, chairs and monitors for PC gaming systems. The company also produces pre-built gaming systems and gaming laptops.

In its list of the best gaming PCs in 2023, PC Gamer magazine ranks the Corsair One i300 as the "the best compact high-end gaming PC." One of Corsair's latest products to hit the market is Xeneon Flex 45WQHD240 OLED monitor, which, as the name "flex" indicates, has a flexible screen.

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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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