It’s also oversold on relative strength (RSI), MACD, and Williams’ %R and could eventually refill its bearish gap around $90.75 – with patience. Plus, the stock should do well with video game sales only set to improve. Already, in the first half of the year, video game sales were up to $28.9 billion – up 15% year over year, according to the NPD Group.
In addition, “For the quarter ended June 30, 2021, Activision Blizzard’s net revenues presented in accordance with GAAP were $2.30 billion, as compared with $1.93 billion for the second quarter of 2020. GAAP net revenues from digital channels were $2.03 billion. GAAP operating margin was 42%. GAAP earnings per diluted share were $1.12, as compared with $0.75 for the second quarter of 2020. On a non-GAAP basis, Activision Blizzard’s operating margin was 44% and earnings per diluted share were $1.20, as compared with $0.81 for the second quarter of 2020,” as noted by the company.