The value of Electronic Arts dropped by $ 3.3 billion after the release of the second season of Apex Legends
Last week was unsuccessful for EA. The company’s market capitalization has fallen by almost 10%. The reason is the cold reception of the second season of Apex Legends from the players.
After the crazy success of Apex Legends in February, investors began to link EA’s future with the new Respawn Entertainment game. However, the development team is not yet able to maintain interest in the project.
The release of the second season of Apex Legends took place on July 2. At the same time, EA’s value peaked at $103.39 per share. However, already on July 3, it began to fall rapidly. Trading on Monday began with an estimate of $92.24 per share. In other words, last Tuesday the company was valued at $30.7 billion, and a week later at $27.5 billion.
Dynamics of the value of EA shares
In the market, this is primarily attributed to the low performance of the game on Twitch.
After the release of the update, the average daily number of viewers of the game reached 45 thousand. At the same time, at the start of the game in winter, this metric reached 278 thousand.
According to the GitHyp service, the update to Apex Legends really could not return the game to its former popularity. And now the daily audience of the project is returning to the June plateau of 15-20 thousand viewers per day.
This is still a good result for any fritupley game. However, this is much lower than Fortnite and Counter-Strike.
- after the fall, the stock price returned to May;
- now EA shares are growing again.
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