GME - With new consoles gaming industry faces question: Staying power or a flash in the pandemic pan?

The release of new state-of-the-art videogame consoles from Microsoft (MSFT) and Sony (SNE) isn't just the start of a new era for the industry (the two companies' last consoles came out seven years ago), but also an exclamation point on a banner year, with gamers new and old stuck at home and spending heavily. This week's report on videogame sales from the NPD Group indicated year-to-date sales in the industry through 10 months came to $37.5B, up 20% from last year. Even hardware spending, usually pressured by an impending new console release, is up 23% year-to-date from the same period last year - to $2.5B. The debate videogame investors are having, though, is whether the gains go away with the end of the pandemic, or whether they're sticky enough to keep growing. Shares of game publishers often go down even after mostly positive reports, and they declined last Monday (along

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With new consoles, gaming industry faces question: Staying power, or a flash in the pandemic pan?