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Trade Alert – Activision Blizzard (ATVI)

by | Apr 17, 2020 | Daily Trade Alert

Earlier this week, we highlighted an opportunity in Moderna (MRNA).

At the time, it traded at just $33.95. As of this morning, the stock is up to $48.10. That’s a quick gain of more than $14 since Monday.

All on news it won an $843 million U.S. award to develop a vaccine. “By investing now in our manufacturing process scale-up to enable large scale production for pandemic response, we believe that we would be able to supply millions of doses per month in 2020 and with further investments, tens of millions per month in 2021, if the vaccine candidate is successful in the clinic,” commented CEO Stéphane Bancel, as quoted by MarketWatch.

Today, we’re reiterating opportunities in video game stocks on the coronavirus story.

As governments around the world encourage social distancing to slow the spread of the coronavirus, video game stocks have been some of the top runners. One of those stocks has been Activision Blizzard (ATVI), which we continue to highlight. It has now run from a recent low of $60.46 to a high of $68.95 a share. All as its games see “record levels of engagement.”

“We’re very fortunate, we launched a new free-to-play Call of Duty a few weeks ago and we’ve had over 50 million people sign up to play,” says CEO Bobby Kotick, as quoted by Video Games Chronicle. “Most of our games are seeing record levels of engagement and people are getting the benefit of entertainment at home for what we do.”

Better, “Videogames could see increased engagement as folks fight off cabin fever. Online gaming often includes voice chat, a way friends can keep in touch and hang out virtually amid self-quarantines. Anecdotally, increased network data from Telecom Italia, suggesting such increased online use in Italy. Plus, as Americans avoid vacations, dining out and attending events, they will have more money to spend on videogames and their digital add-ons,” says Cowen analyst Doug Creutz, as quoted by Barron’s.

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