Amazing On September 2nd a $3.6 billion deal that takes Skillz public (NASDAQ: “FEAC”) signals that gaming stocks are still hot.
Since 2012, while the S&P 500 added 142%, gaming stocks posted gains like these:
Take-Two Interactive (TTWO) 1,688%
Electronic Arts (EA) 1,084%
Activision Blizzard (ATVI) 540%
The $3.6 billion Skillz Inc. blank check merger not only signals that gaming stocks’ run is still strong. It also makes Skillz the first game real money rewards platform developer to go public. The fact that an under-the-radar company like Skillz, with no big-name game brands and could suddenly go public at a $3.6 billion valuation is a sign that the future of digital game monetization just took a sharp turn. Game monetization is taking center stage.
To me it validates the Versus platform as being in the right space at the right time