Those of us that remember the gaming industry, which is changing quickly, remembers the name Activision. I’m talking really remembers, Like “Atari 2600” remembers.
The company has changed, but one thing remains constant, the hits. The combination of the these companies encompass legacy of titles that generate copious amounts of revenue. As is always the case, Activision tends to have a strong end-of-year based on the seasonal release of the new titles like “Call of Duty”.
The stock popped-up on the model results this afternoon as we’re seeing ATVI shares move higher. Its part of a seasonal trend that sees the stock make strong moves from November through February.
Checking the chart, the stock is mounting a return to its highs bolstered by new releases, a shift in the analyst outlooks for the stock and improving technicals.
As of now, the near-term target for the stock $60, which gives us an opportunity for some quick profits. Longer-term, a return to the $80 range is in the cards as long as the consumer remains strong and the economy and trade war… well, you know.