This week our sponsors at Life Water Media (Disclosure) hired us to take a closer look at Enthusiast Gaming Holdings (CSE:EGLX)(OTC:ENGMF), a Canadian video game and Esports company. The more we dug into ENGMF, the more we liked it! Keep reading to find out why.
Company: Enthusiast Gaming Holdings, Inc.
Sector: Communications (Interactive Media & Entertainment)
ENGMF divides their business into 3 segments: Media, Events and Esports. With the Covid-19 pandemic putting almost all sporting events on hold, Esports in particular saw a huge boost in interest, and that interest is unlikely to fade anytime soon. Nearly 1/3 of the world’s population plays video games of some sort, and people’s interest in gaming doesn’t stop when they put down the controllers. ENGMF is already the largest gaming media platform in North America thanks to their recent acquisition of Omnia Media, and the results are starting to pay dividends. In their most recent quarterly earnings, Q4 revenue grew 34% and Q4 direct sales increased by 230%!
Enthusiast Gaming Holdings’ share price has been on a tear since the beginning of 2021, with what looks to be a stair stepping pattern of higher highs and higher lows. The most recent saw its share price touch $8.50 before falling to a new support level around $6.50 to $7.00. With this company’s impressive earnings growth, the recent acquisition Omnia Media and the huge potential of the segment they focus in, we really like this stock. In fact, we liked it so much we bought shares after doing this research!
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Through an agreement with a third party, Financial Ineptitude, Inc was paid $110 on 4/3/21 through 4/5/21 to write this promotional content for Enthusiast Gaming Holdings, Inc. (CSE:EGLX)(OTC:ENGMF), which contains affiliate links. We are not licensed to give financial advice and nothing in this article should be construed as such. Please do your own research and consult with a financial advisor before making any investment decisions.