Is Activision Blizzard Stock a Buy?

Summer is here, but with many households confined indoors due to COVID-19, video game stocks are doing well. In fact, while the S&P 500 remains down 6% year to date, all the largest U.S. video game studio pure-plays are up. Activision Blizzard (NASDAQ: ATVI), the largest of the batch, has gained 29% so far in 2020, trailing only small mobile gaming outfit Zynga's (NASDAQ: ZNGA) 56% runup.  

Video games are important entertainment outlets these days, and e-sports continues to grow in popularity around the globe. Some estimates say annual spending on the interactive entertainment medium will increase from some $150 billion in 2019 to over $250 billion by 2025.

Activision Blizzard is one of the largest game creators around. That makes the stock a no-brainer, right? I'm not so sure.  

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Source Fool.com