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Buy The Dip in Take-Two, EA, and More
The stock downtrend in gaming firms is creating bigger discounts for investors who missed the rally that began last Oct. 2023.
Take-Two Interactive (TTWO) closed at $140.60 and has enough selling momentum to re-test the $135 low from last Nov. 2023. Insider Karl Slatoff, the firm's President, sold $13.5 million worth of shares. While this is a negative development, the 5% job cut at the Grand Theft Auto division should increase efficiencies and lower costs.
Electronic Arts (EA) is at risk of retesting the $120 low first established between Aug. 2023 – Oct. 2023. Valuations remain unfavorably high. The gaming firm is reportedly raising its monthly and annual EA Play subscriptions. Wait for EA to confirm that subscribers are renewing their membership first.
In the online dating sector, Match (MTCH) has better prospects than Bumble (BMBL). Although Bumble has better value, its product revamp may not boost revenue. Furthermore, when it cut 350 employees, announced in February, that might weaken customer support
Match is due for a shakeup. The firm added two board members. Instacart's (CART) Chief Marketing Officer, Laura Jones, and ex-CEO of Zillow Group (ZG) Spencer Rascoff will join. Activist investor Elliot Management will continue to pressure the firm in re-accelerating revenue growth.
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