It's been a rough couple of years for Electronic Arts. Between the seemingly never-ending Star Wars Battlefront II controversy to the closing of Visceral Games, EA has been on the receiving end of a lot of bad headlines recently. But thanks to Respawn Entertainment's Apex Legends that may be changing.
After its Q3 financial call earlier this month -- which reported on things like disappointing Battlefield V sales -- EA's stock dropped pretty hard, 18 percent to be exact. And that's to be expected when you miss your quarterly sales target.
Still, EA built-up investors by noting that February was gearing up to be a big month for the company with the release of both Anthem, and anticipating some type of success with Apex Legends. And while Anthem's two demos sure didn't light the world on fire, Apex Legends sure has, so much so that it's helped EA's stock rebound and then some.
Earlier this week, EA revealed that Apex Legends garnered 10 million players in three days, which is faster than both PUBG and Fortnite. And not long after this announcement, its stock started to trend upwards. And according to GamesIndustry -- as of yesterday -- EA's stock rose back to where it was prior to the aforementioned financial call, and then even went up a little bit. More specifically, share price rose 14.47 percent, bringing a single share to $96.27.
And again, this makes sense. Once everyone saw Apex Legends taking off, everyone rushed to get in on those stocks, driving up the price. Now, if Anthem bombs and comes under EA's five to six million one week sales estimate, we may see the stock price dip back down, but with Apex Legends on the rise it may be a very healthy couple months ahead for the company, which just a week ago, wasn't looking particularly great.0comments
Apex Legends, which is free-to-play, is available for PS4, Xbox One, and PC. At the moment of publishing, there's been no word of a Nintendo Switch port, but Respawn Entertainment has said it would love to bring the game to the Nintendo platform.
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