Changes in player behavior and the drop in consumer spending due to inflation are harming companies in the mobile gaming universe. According to Financial Times, the once thriving market is set to decline for the very first time since the beginning of the smart phone era.
The cards have changed
Meta Platforms (META) - Analysts at JP Morgan upgraded shares of Meta to the equivalent of a buy rating Friday morning. The analysts cited "encouraging signs of increasing cost
Following Wednesday’s late-day swoon, coupled with weakness in the futures during premarket trading, no stock was immune from selling pressure.
The last thing an issue needed was some bad news to intensify its potential decline.
Gainers
Crown ElectroKinetics Corp. (NASDAQ: CRKN) jumped 69.6% to $0.2604 after gaining 17% on Wednesday. Crown ElectroKinetics, last month, posted a Q3 loss of $0.18 per share.
Daily active users (DAUs) were 56.7 million, up 15% year-over-year.
Hours engaged were 3.9 billion, up 10% year-over-year.
Estimated revenue was between $190 million and $193
One of the biggest video games of the last five years is now the target of a class action lawsuit. Here’s a look at the game, the lawsuit and what it could mean for the gaming industry.