Funko Stock Jumps on Fortnite Toys Deal
- Funko lands first Fortnite branding deal of its kind
- Toy maker outperforms larger industry peers Hasbro and Mattel
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Fortnite addicts will soon be able to take their video game battles off the screen and onto the living-room floor.
Funko Inc.’s partnership with Epic Games to create more than 10 product lines of Fortnite toys and collectibles, the first such branded deal for the game, sent shares up as much as 18 percent Wednesday, the biggest gain since it went public last November. Funko hit a new record high, putting its messy initial public offering -- which saw its valuation cut by more than a third in its opening day -- well behind the company as investors bet that Fortnite’s 125 million users will buy small, squishy replicas of their favorite characters.