Electronic Arts Inc. rose to the highest in nearly four months as some Wall Street analysts weighed in favorably on the the potential success of the company-rsquo;s latest game, Apex Legends.
Free-to-play Apex Legends could be a competitor to the wildly popular game Fortnite, Bank of America Merrill Lynch suggested in a note, upgrading shares to buy. And Jefferies said Fortnite-rsquo;s viewership on the video game streaming site Twitch was “basically chopped in half” in the days following the Apex release.
Shares experienced a delayed reaction since the February 4 launch, which came with little fanfare. The stock caught fire a few days later, when the video-game maker announced the release attracted 10 million users. The turnaround is notable for the stock, which suffered about five months of losses since last summer through December.