3 Top Video Game Stocks to Buy in April
The economic fallout brought on by efforts to stop the spread of coronavirus is only just beginning to be felt. Just in the United States, initial jobless claims have quickly surged above 10 million. Businesses are under pressure, either due to mandatory closure or lost business as most potential consumers are confined to home. For others, the sudden increased importance of digital tools has created logistical issues for companies with employees working remotely.
There are a handful of industries that have seen an increase in business related to the COVID-19 disruption. The video game industry is one. According to Verizon CEO Hans Vestberg, video gaming on his company's mobile network increased 75% week-over-week in mid-March. It's likely a temporary surge, but it underscores how important games have become -- especially to younger, tech-savvy generations.
Of course, higher video game use doesn't automatically equate to higher share prices for the companies that make them. Nevertheless, three companies well-positioned to attract the growing pool of gamers in the months and years ahead are Zynga (NASDAQ: ZNGA), Take-Two Interactive (NASDAQ: TTWO), and Tencent Holdings (OTC: TCEHY). Let's take a closer look at these companies and see whether they might be worth investing in.
Source Fool.com
