But, it could also present an opportunity to investors looking to buy on weakness. Take-Two is the preeminent studio in gaming, and yes it s getting a sell-off because of the post-pandemic sugar high. But long term, it has Grand Theft Auto 6 coming out which is going to be probably the single biggest blockbuster hit in the history of gaming, Boris Schlossberg, managing director of FX strategy at BK Asset Management, told CNBC s Trading Nation on Wednesday.
Rockstar Games, owned by Take-Two, has not officially confirmed GTA 6. The last, GTA 5, was released in 2013. Its other profitable franchises include Red Dead Redemption.
We re actually looking at credit cards as a way to play the reopening because no matter how you spend your money, you re going to have to spend it somehow, said Gina Sanchez, CEO of Chantico Global and chief market strategist at Lido Advisors.
Sanchez pinpoints Visa as one name that could benefit after getting hit hard during the pandemic. At its worst, Visa fell nearly 40% from a February 2020 peak to a March 2020 low. Since then, it has rallied more than 70% and hit an all-time high as recently as late April. They re really starting to accumulate volumes, their earnings, their revenues are really looking like they re going to hit records as the reopening occurs, especially because they re so strong in the U.S., Europe, China, said Sanchez.