The video game industry has had a roller coaster year in 2022. After posting record-breaking sales during the pandemic’s peak, the economic reopening caused the gaming market to take a sharp downturn. Sales plunged over the first three quarters due to dwindling demand from an already fragile economy. Consequently, it was one of the worst years for the video game sphere shedding light on how much uncertainty affects every sector of our economy. Hence, it’s probably the right time for investors to ponder over video game stocks to sell
Inflation is at multi-year highs, and economic concerns have led to fears of a looming recession. Unfortunately, this means consumers are cutting back their spending on video games. Newzoo estimates that this will eventually lead to a 4.3% decrease in sales this year, compared to a 7.6% increase just last year and a 25% bump in 2020.