The remastered version of Activision Blizzard (NASDAQ: ATVI) Diablo 2: Resurrected was released on September 23, and seems to have made a good start. As of 9:56 EST on Friday, the game was the fourth most watched channel on Amazon’s Twitch streaming platform, with 164,000 viewers.
This game was originally released in 2000. This renewal provides older players with nostalgia and a visual upgrade to their 4K display. It retails for $ 40 and is available for the first time on PCs and all consoles.
Diablo 2’s strong reputation on Twitch, one of the most popular platforms for watching people play video games, is welcomed in the midst of recent research and complaints about Blizzard’s work culture. This is news. In particular, it suggests that players’ passion for the company’s games remains healthy, which could lead to the recent sale of Activision sharing significant buying opportunities.
New release crescendo
Activision’s share price has fallen 17.4% in the last three months, following Electronic Arts (NASDAQ: EA) and Take-Two Interactive (NASDAQ: TTWO). However, after the surge in video game sales in 2020, the growth of the industry as a whole slowed, and the stock prices of all three game companies have fallen so far.
The Diablo 2 reception heralds strong sales of other releases scheduled for the coming years. Diablo: Immortal is coming soon on mobile devices. This should appeal to millions of new players who have never experienced the Diablo title.
Blizzard is planning these releases in stages to warm up everyone in Diablo 4. Although the release date is still unknown, Diablo 4 features cutting-edge new gameplay in action role-playing games and is designed to appeal to the hardcore fan base. Blizzard finished the second quarter with 26 million monthly active users, starting with a segment record of 46 million people in the second quarter of 2017.
Overall, these Diablo titles are important growth catalysts. The 2012 Diablo 3 release contributed to 11% and 27% growth in non-GAAP earnings and earnings per share, respectively.Diablo 2 remakes may not move much in 2021, although Diablo 4 is the performance of Diablo 3 at the time of release.
Overwatch 2 released in 2022?
In addition, in a recent article by Dexelt, Overwatch 2 could be released as early as the second quarter of 2022, according to Activision Blizzard internal sources. The original Overwatch title was released in May 2016, so the timing is definitely the same. The first Overwatch was a huge hit after its release and has sold over 50 million copies so far.
Keep in mind that in the second quarter earnings announcement, management commented that Overwatch 2 has recently passed an important milestone in development. This is a good sign that things are going on in-house despite the recent management turmoil at Blizzard Studios.
Activision stock is a great buy
Investors pay high when business conditions are deteriorating, but if the top companies are scrutinized, it offers the opportunity to get the best value. The recent sale has reduced Activision Blizzard’s price-earnings ratio to 20. This is lower than Take-Two’s price-earnings ratio of 28 and Electronic Arts’ price-earnings ratio of 30.
However, Activision is not the cheapest game stock because it has a high price-to-sales (P / S) ratio of 6.5, compared to Take-Two’s P / S multiple slightly above 5.
Still, with Activision releasing multiple titles from top franchises, early interest in Diablo 2 shows a potentially lucrative series of sales. Looking ahead for more than five years, buying stock in this top game stock at these levels can lead to returns that far exceed the average stock market returns.
This article represents the opinion of a writer who may disagree with the official recommended position of the Motley Fool Premium Advisory Service. It was miscellaneous! Asking investment treatises (even our own) helps us all think critically about investment and make decisions that help us become smarter, happier, and richer. Useful.
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