Why Corsair Gaming Stock Popped Today

Shares of Corsair Gaming (NASDAQ: CRSR) popped today, up 12% as of 12:15 p.m. EDT, after the company received another bullish initiation from Wall Street. Corsair, which provides hardware for gamers and live streamers, went public a little less than a month ago.

Wedbush initiated coverage on Corsair with an outperform rating. Analyst Michael Pachter assigned a $25 price target, which represents approximately 25% potential upside from yesterday's close. Corsair has a "solid niche" market that consists of a "small, but dedicated base of hard core gamers." While most larger rivals address broader markets, Corsair focuses primarily on serving the esports market.

Image source: Corsair.

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Source Fool.com