Mobile game fanatics will undoubtedly be familiar with the offerings of San Francisco-based Zynga (NASDAQ:ZNGA). And if you want to earn a high score in the mobile gaming niche, holding ZNGA stock is an easy way to do it.
There’s a pretty good chance that you’ve seen Zynga’s games on one or more well-known social media platforms. For that reason, some folks called them “social games,” which is an apt description. To a certain extent, it’s the social aspect that keeps people addicted to these games.
Or maybe it’s just the intense need to get to the next level and beat the final boss in the game. Moreover, because people have been cooped up at home due to the novel coronavirus, Zynga’s games have remained extremely popular in 2020.
So, how will Zynga “level up” and move forward with even more popular and addictive games? There are a couple of recent developments that should give prospective investors some clues, including a connection with a famous book and film character who’s been known to cast a spell or two.
ZNGA Stock at a Glance
One feature of ZNGA stock is that it’s easily affordable for most traders. This is something that’s not discussed often, but it’s nice to know that ZNGA shares not only represent a solid company, but they’re also accessible to smaller-sized trading accounts.
Don’t let the low price point mislead you. This stock is a runner with a 52-week range of $5.65 to $10.69. ZNGA stock proved itself after the coronavirus crisis in March as it nearly doubled in price over the following several months.
There is some resistance at the $10.50 level, however. Zynga touched that level on July 10 and the bulls will definitely want to reclaim it before the year is over.
A Spellbinding Release
In case you haven’t figured it out already, the spell-casting character I was referring to earlier is the one and only Harry Potter. This is a character that’s beloved and is known far and wide. Pretty much anything with a Harry Potter connection is almost guaranteed to be a hot seller.
Therefore, it’s a smart move for Zynga to release a game with a Harry Potter association. Not long ago, the company launched the Match-3 mobile game Harry Potter: Puzzles & Spells globally.
This game is published under the Portkey Games label and can be downloaded on iOS and Android devices.
Zynga made this game to be massively addictive. Players can earn spells, experience points and power-ups. Clearly, this Harry Potter game has “best-seller” written all over it.
It’s Hyper, Yet Casual
There’s a video game category that’s growing quickly, but you might not have heard of it. They’re called hyper-casual games, which sounds like an oxymoron at first.
But this is a real phenomenon in the gaming world. ironSource’s Raquel Korman describes hyper-casual games as “lightweight games with simple mechanics that offer instant gameplay.” Korman further explains that hyper-casual games are “not only instantly playable but infinitely replayable, making them highly addictive and engaging.”
To get into this space, Zynga has acquired Istanbul-based mobile games developer and publisher Rollic. Reportedly, “Eight of Rollic’s games have reached #1 or #2 top free downloaded games in the U.S. App Store.”
Two Rollic releases, Go Knots 3D and Tangle Master 3D, are particularly popular. In fact, they were “the top two most downloaded games in the U.S. App Store in Q2 2020.”
In a time when hyper-casual games are gaining traction, Zynga’s Rollic acquisition makes perfect sense.
Furthermore, ZNGA stock holders should appreciate the Harry Potter connection. You might not have read the books or watched the films. But the innumerable fans is money in the bank for Zynga.
On the date of publication, Louis Navellier had a long position in ZNGA. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article.
The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.