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.
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Gravity: Ragnarok Online Launch In China Should Provide A Boost