5 Best Esports Stocks to Buy Now

2. Activision Blizzard, Inc. (NASDAQ:ATVI)

Number of Hedge Fund Holders: 128

Activision Blizzard, Inc. (NASDAQ:ATVI) is next on our list of the best esports stocks. It is an American video game holding company that develops, publishes, and distributes a wide range of popular video games. The company operates in various segments of the gaming industry, including console gaming, PC gaming, and mobile gaming.

Activision Blizzard, Inc. (NASDAQ:ATVI) is also heavily involved in the esports industry. The company organizes and operates esports leagues and tournaments for its games, such as the Call of Duty League (CDL), Overwatch League (OWL), and Hearthstone Championship Tour (HCT).

In the first quarter of 2023, Activision Blizzard, Inc. (NASDAQ:ATVI) reported an 11% year-over-year growth in its in-game net bookings, mainly driven by the Candy Crush franchise. In addition to this, Candy Crush has remained the highest-earning game franchise in the U.S. app stores for the 23rd consecutive quarter.

Activision Blizzard, Inc. (NASDAQ:ATVI) was a part of 128 hedge fund portfolios in the first quarter of 2023, according to Insider Monkey’s database. The stakes owned by these funds are collectively worth over $10.4 billion.

Kinsman Oak Capital Partners mentioned Activision Blizzard, Inc. (NASDAQ:ATVI) in its Q1 2023 investor letter. Here is what the firm has to say:

“We closed our long position in Activision Blizzard, Inc. (NASDAQ:ATVI) on the last trading day of the quarter. We initiated the position in November 2021 and, despite crystalizing a gain on the investment, we are admittedly a little frustrated with how this has played out. In January 2022, Microsoft (MSFT) agreed to acquire the company for $95/share, but regulators are determined to block the transaction, and appear increasingly activist, in our opinion.”

Follow Activision Blizzard Inc. (NASDAQ:ATVI)