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Nvidia Is Roaring, Activision Blizzard Is Screaming and Tech Is Back, Baby: Market Recon

"If you're not in the parade, you watch the parade. That's life." -- Mike Ditka

The Blizzard

Tech roared in general yesterday. More specifically, Nvidia (NVDA) roared. Know what else roared? Some of you have been pounding the table on Activision Blizzard (ATVI) all year. That stock is screaming. I have looked at it several times over the years, and have always taken a pass. My bad. ATVI was the strongest stock in the Technology SPDR ETF yesterday XLK, soaring 5.2% to close above $61 a share. As we bang out this morning note, the shares are at it again, trading closer to $62 in overnight trading. Seems to me that if you're not willing to buy ATVI near the top, you just may end up not buying ATVI. Call it a benefactor of the experiential economy. Why, though? Why the sudden surge yesterday?

I'm sure you kids saw the news about the "Overwatch League". Maybe you didn't. I am an old man, too old to really get all of the hoopla that comes with video games, and not just playing them, but watching others do so. Just because I don't get it, does not discount its reality, and does not discount the fact that there may be a significant market here. (Duh, Sarge). Prior to the opening bell yesterday at 11 Wall Street, Activision Blizzard announced the sale of the first teams for this Overwatch League. Just what is this league, you ask. Good question. This is the first major professional e-sports...


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