3 Video Game Stocks Under $5 Wall Street Predicts Will Rally by More Than 110%
StockNews
Published Nov 04, 2021 11:50AM ET
Updated Nov 04, 2021 12:30PM ET
3 Video Game Stocks Under $5 Wall Street Predicts Will Rally by More Than 110%
The video game industry has experienced a surge in users and revenues since the onset of the COVID-19 pandemic, thanks to the remote lifestyle it fostered. Cloud gaming, the increasingly easy availability of the internet, and advances in gaming features have fueled the market’s growth. So, we think it could be worth watching low-priced video game stocks Enthusiast Gaming (EGLX), Super League Gaming (NASDAQ:SLGG), and Engine Gaming (GAME) because Wall Street analysts expect these stocks to more than double in price in the near term. Let’s discuss.The growing penetration of internet services, cloud gaming, and interest in eSports has helped the video game industry grow significantly. Also, the pandemic-driven remote lifestyle has led to an increased focus on digital gaming. The global gaming market is expected to reach $256.97 billion by 2025. Also, the industry’s revenue is projected to reach $155.3 billion in 2021.
Due to supply chain bottlenecks, the production of hardware required for video games, such as headphones, monitors, and remotes, has been hampered. However, according to Hendrick Sin of CMGE, a Chinese game developer, China’s favorable video gaming regulations have positively influenced the gaming market. Investors’ interest in video game stocks is evident in the VanEck Vectors Video Gaming and eSports ETF’s (ESPO) 14.7% returns over the past year.
Hence, we think it could be worth watching video game stocks Enthusiast Gaming Holdings Inc. (EGLX), Super League Gaming, Inc. (SLGG), and Engine Gaming and Media, Inc. (GAME). Wall Street analysts expect these under-$5 stocks to rally by more than 110% in the near term.
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