Esports is a cutting-edge industry that is seeing a surge in popularity. Chalk it up to the pandemic putting more people on couches or credit the genius marketing of the esports industry. Either way, know that it’s not disappearing soon. Super League Gaming (NASDAQ:SLGG) stock, an emerging name in the industry, is seeing big gains today.
Industry talk is heating up this week, and many have taken to Twitter to speculate on the future of Super League. The company is ripe for rumors after recently securing high-profile partnerships with companies like Topgolf Entertainment for livestreamed events.
Lots of Twitter users are hoping to see some acquisitions, and peg GameStop (NYSE:GME) as a potential suitor of the company. This speculation is not entirely unfounded, given the exponential growth of value and recent addition of Ryan Cohen to the company’s “turnaround” committee.
GameStop is looking at many different ways to change its business platform, and esports could be an answer. Additionally, Ryan Cohen posted a cryptic Tweet that some savvy esports fans have linked to the Super League CEO.
Further spurring speculation around GameStop and Super League is the acquisition of the Evolution Championship Series by Sony (NYSE:SNE). EVO is a tournament held in high regard and is one of the oldest esports events in the world. Sony is looking to revamp the event through the acquisition after prior controversies. The partnership makes companies like Super League ripe for a similar purchase.
The Bottom Line on SLGG Stock
I can’t confirm anything about the future of Super League or the mysterious GameStop turnaround plan. However, investors should pay attention to the broader story with GameStop.
Esports companies are surging with all of the speculation, and investors are seeing gains across the board. SLGG stock is up by over 23% this morning as chatter gets louder. Likewise, esports companies Allied (NASDAQ:AESE) and Esports Entertainment (NASDAQ:GMBL) are seeing gains of 19% and 7%, respectively. It is not unwise to look to these stocks for future growth.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.
