Gaming Funds Fall From Apex as Vaccine Dims Screen Time’s Appeal
- Video-game ETFs test key support lines despite higher inflows
- CFRA Research still sees appeal in gaming ETFs at lower price
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E-sports and video-game funds are testing key support levels in a sign the sector that ran hot during stay-at-home coronavirus orders and a cycle of new consoles has quickly cooled off.
Global X Management’s Video Games & Esports (HERO) exchange-traded fund has fallen 19% from its all-time high in February, and now sits below its 100-day moving average. Roundhill’s similar ETF (NERD) is nearing the technical line also. Both funds retreated Monday amid losses for some of the biggest names in the industry, including Take-Two Interactive Software Inc., Ubisoft Entertainment SA and Bilibili Inc.