Here’s Why Video Game Stocks Will Trend Higher

The world of gaming has never been as exciting as it is right now.  After a record setting year, the NPD Group says gamers just spent another record $5.61 billion in March – an 18% jump from $4.75 billion year over year. Even better, three months into 2021, and video game sales are already up 30% to $14.92 billion from $11.47 billion year over year. That’s creating a great deal of momentum for companies like Enthusiast Gaming Holdings Inc. (TSX:EGLX) (OTCQB:ENGMF), Activision Blizzard (NASDAQ:ATVI), Electronic Arts Inc. (NASDAQ:EA), Take-Two Interactive Software Inc. (NASDAQ:TTWO), and Roblox Corp. (NYSE:RBLX).

The best part – growth isn’t likely to slow any time soon.  In fact, as noted by Go Banking Rates, “A recent report from ResearchAndMarkets predicted that the global consoles games market will amount to $67.1 billion at a compound annual growth rate (CAGR) of 13.4% into 2023. In a separate report, MarketsandMarkets predicted that the global gaming industry could register a CAGR of 12% between 2020 and 2025.” Helping quite a bit is the strength of eSports, social gaming, mobile gaming, cloud-based gaming, and virtual reality.