Electronic Arts (EA) stock exploded on Friday, February 8, 2019, after the company reported 10 million signups in 72 hours for its new blockbuster game Apex Legend. In a blog post to its website, EA writes:
In 72 hours, over 10 million players have jumped into Apex Legends and we’ve breached 1 million concurrent players!
This has been a truly incredible journey. We tested and tweaked. We argued and agreed. We got to a point where we felt some magic. We knew it would be risky to take the franchise in this direction, to go free to play, and do a surprise launch. But we fell in love with Apex Legends and wanted, needed, other people to play it too.
We hoped you’d love it as much as us, but never in our wildest dreams could we have expected the outpouring of support and positivity we’ve seen. From all of us at Respawn, thank you for giving us and Apex Legends a chance. Thank you for joining us on this journey. This is just the beginning! We have so much more in store for you this year.
See you in the arena!
Fortnite has put downward pressure on EA’s stock as the video game business is all about creating the next big hit.
The hottest game is Fortnite but things go in cycles so Fortnite’s popularity will drop in the future. Apex Legend could be the next game that takes marketshare back from Fortnite.
Electronic Arts Stock
Beautiful looking chart but can’t chase anything in this market folks. Prices have been extended to far to the upside. It is better to wait for a consolidation pattern before taking a long entry IMO.
Disclosure: I do not hold any position in EA stock.