Entertainment stocks represent shares of companies that operate in the entertainment industry, which includes movies, television shows, streaming content, music, and live events. The entertainment sector is constantly evolving, with new technologies and platforms changing the way people consume content. The performance of entertainment stocks can be influenced by a range of factors, including the quality and popularity of the content, changes in consumer preferences, and competition from other entertainment companies.
Investing in entertainment stocks can be a way to gain exposure to the media and entertainment industry, which can provide opportunities for growth and diversification in an investor’s portfolio. However, it’s important to note that entertainment stocks can be volatile and subject to sudden price swings, as well as regulatory risks.
When evaluating entertainment stocks, investors should consider factors such as the quality of the company’s content, its financial health, its competitive landscape, and its growth potential. It’s also important to stay up to date with changes in the industry and emerging trends, such as the shift toward streaming content and changes in consumer viewing habits. By conducting thorough research and due diligence, investors can identify entertainment stocks that have the potential to perform well and add value to their portfolios. With this in mind, let’s dive into three entertainment stocks to check out in the stock market now.
Entertainment Stocks To Watch Right Now
- Roblox Corporation (NYSE: RBLX)
- Activision Blizzard Inc. (NASDAQ: ATVI)
- Roku Inc. (NASDAQ: ROKU)
Roblox (RBLX Stock)
Firstly, Roblox Corporation (RBLX) operates an online video game platform that allows gamers to create, develop, and monetize their own games or “experiences” for other players. The company provides developers with a comprehensive suite of tools that include a game engine, a publishing platform, online hosting, and services, a marketplace with payment processing, and a social network, enabling them to create and distribute their content seamlessly.
Last week, Roblox reported better-than-expected 4th quarter 2022 financial results. Specifically, the company posted a loss of $0.48 per share versus estimates of a loss of $0.55 per share. Additionally, revenue for the quarter came in at $579.0 million.
Year-to-date thus far, RBLX stock has advanced by 32.28%. Meanwhile, during Friday’s afternoon trading action, shares of Roblox stock dropped by 1.42% on the day at $36.84 per share.
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Activision Blizzard (ATVI Stock)
Second, Activision Blizzard Inc. (ATVI) is a video game holding company that owns popular game franchises such as Call of Duty, World of Warcraft, and Candy Crush. The company has a strong history of producing hit games.
Earlier this month, Activision Blizzard announced its fourth-quarter 2022 financial results. In the report, the company posted Q4 2022 earnings of $1.84 per share, along with revenue of $2.3 billion. What’s more, the company saw an increase of 7.9% in revenue versus the same period, the prior year.
Looking at the last month of trading, Activision Blizzard’s stock has increased by 2.12%. While, on Friday early afternoon, shares of ATVI stock are trading red on the day by 0.50% at $76.68 a share.
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Roku (ROKU Stock)
Last but not least, Roku Inc. (ROKU) is a streaming platform that provides a range of streaming devices and services. The company generates revenue through advertising and content partnerships and has seen significant growth in recent years due to the increase in cord-cutting and the shift toward streaming content.
Similar to the names mentioned above, Roku announced its Q4 2022 financial and operating results just last week. Getting right to it, the streaming company reported a loss of $1.70 per share and revenue of $867.1 million. This is versus Wall Street’s consensus estimates which were a loss of $1.73 per share, with revenue estimates of $803.2 million.
Since the beginning of 2023, shares of Roku stock have recovered by 55.25% year-to-date. Additionally, on Friday afternoon, ROKU stock is trading down on the day by 5.71% at $62.98 a share.
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