Stillfront and Embracer Group dominate the stock market | Pocket Gamer.biz
Swedish games companies Stillfront Group and Embracer Group have dominated the games industry stock market this year.
As reported by Bloomberg, both companies have been recognised as two of the best stocks in the market as the pair saw an increased valuation of 170 per cent.
Overall, the Solactive Video Games Index was up 39 per cent in 2020.
It goes without saying that the ongoing coronavirus pandemic has played a part in the success of not just Stillfront and Embracer, but the games industry as a whole.
As a result of the outbreak, lockdowns were enforced worldwide. People were confined to their homes. Thus, they turned to games as a means of entertainment.
Growing companies
This year, both Stillfront and Embracer went on an acquisition spree. The former, most recently, acquired independent developer Everguild Limited.
Furthermore, Stillfront has secured a new revolving credit facility of $447 million.
Meanwhile, Embracer Group went on a serious spending spree in 2020. Last month, the company picked up 12 studios, including A Thinking Ape.
In September it purchased Vertigo Games and in August Embracer welcomed eight new companies into its fold.
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