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GRVY - Gravity: Ragnarok Online Launch In China Should Provide A Boost
GRAVITY Co. Ltd.
2024-06-20 17:39:44 ET
Summary
Gravity's upcoming launch of longstanding flagship Ragnarok Online in China could grow the share of more solid games in its mix.
Currently, the short tailed gacha games have been falling off, where sales are down sequentially and YoY.
PEs are low despite the pretty high likelihood of growth. The issue here is that there is a mix of corporate governance concerns around ownership and cash management.
We think these issues are more mitigated in other gacha game market picks. Nonetheless, the moment isn't bad for GRVY.