Buy This Entertainment Stock Before It's Too Late
The market continues to sleep on (OTC: NTDOY). The Japanese video game giant and owner of family-friendly entertainment characters such as Mario, Zelda, and Bowser just reported phenomenal earnings but has seen shares of its stock fall around 10% in recent trading days. Despite trading at a discounted earnings multiple on cyclically low-profit numbers, short-term traders have soured on the stock. This provides an opportunity for investors who care about more than just the next couple of quarters.
Here's why -- after its recent price drop -- Nintendo is one of the cheapest high-quality stocks investors can buy today.
In the first quarter of fiscal year 2024, Nintendo reported strong growth and profitability. Revenue grew 50% year over year to $3.22 billion, with operating profit growing a whopping 82% to $1.3 billion just for the three months ending in June. This huge boost in sales and profits is due to the release of two blockbuster entertainment products last quarter: The Super Mario Bros. Movie and The Legend of Zelda: Tears of the Kingdom video game.
Source Fool.com
