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Since last year, the electronic gaming industry has been booming, driven by rising interest in indoor entertainment amid social distancing mandates and stay-at-home orders. In 2020, mobile games generated $77.20 billion in revenues. Players increased 12% to 2.5 billion. Analysts expect the global games market to generate $175.8 billion in revenues in 2021 and more than $200 billion by the end of 2023. So, SKLZ and UBSFY should benefit.
SKLZ shares have declined 70.8% in price over the past six months, while UBSFY has slumped 31.8%. Also, SKLZ’s 47.5% loss year-to-date compares with UBSFY’s 37.4% loss.
