Now we are going to take a look at the compilation of the Top 5 Video Gaming Stocks to Buy Now, based on Insider Monkey’s list. Since the coronavirus pandemic broke out, almost all of the industries have had great losses, and only a few of them have gained in the last half a year. The video gaming industry is among those few, that has been the largest winners of the pandemic, as its sales hit the roof in the second and third quarters of the year. The reason is very simple, people had to go under self-isolation, and as hundreds of millions live in apartments, playing with video games meant some kind of relief for the stress, the pandemic caused.
The sales of video games increased by 30% year-over-year in Q2, reaching $11.6 billion according to NPD Group, which comprised a 57% surge in console sales. Video game stocks have also reached an incredible growth in the year of 2020 with the largest video game manufacturers, such as Electronic Arts Inc. (NASDAQ:EA), Activision Blizzard Inc. (NASDAQ:ATVI), and Take-Two Interactive Software, Inc. (NASDAQ:TTO).
And now let’s see what Insider Monkey has brought up with regarding the video gaming stocks. We have picked up two stocks, as usual. The first one is NVIDIA Corporation (NASDAQ:NVDA). According to Insider Monkey’s research, 82 hedge funds were long NVDA on September 30, down from 92 at the end of June. Rajiv Jain’s GQG Partners owned a $2.54 billion position in NVDA at the end of Q3. After a weak year in 2019, Nvidia can show increasing revenue, which actually hit 57% in the third quarter. Nvidia is followed by Activision Blizzard Inc. (NASDAQ:ATVI) on the second spot of the compilation. Shares of the World of Warcraft and Call of Duty publisher were owned by 93 hedge funds at the end of Q3, down from just over 100 at the end of Q1. World of Warcraft is still extremely popular and has already brought large amounts for Activision Blizzard Inc. The company has a growth of 46% in the third quarter, and it’s projected to continue growing with games such as Diablo 4 and Overwatch 2. If you are interested in the entire list, please jump to the top 5 video gaming stocks to buy now.