One just need to take note of Unity Software’s strong IPO debut to understand all the raves that is coming the way of gaming stocks.
Unity Software Inc. ( ) is a video game software development company based in San Francisco, United States.
Popularly known for its “Unity” gaming technology—a cross-platform game engine used to create 2D and 3D games, virtual and augmented reality games, to go along with simulations.
The Unity platform is believed to be a favorite tool of mobile game developers therefore making Unity Software to get a big chunk of the mobile games market.
And there’s more…
As a testament to the revolutionary technology of Unity Software’s Unity platform, the widely popular games such as Pokemon Go, and Iron Man VR was created through the Unity engine.
Unity Software also acquired several big-name games developing technologies like Vivox, Finger Food Software, Artomatrix and deltaDNA.
Have you heard?
After months of speculation, Unity Software finally made its IPO debut on September 18, 2020, to a grand welcome from the investors as it achieved a strong 31% opening from its initial stock value.
Unity made a rousing debut on the NYSE with a $75 per share, which is up from its initial public offering of $52—which was still an increase from the expected share value between $34 – $42 that the company expected last month.
Unity Software is here to stay and is expected to remain a leading player in the mobile gaming industry and market.
It raised more than $1.3 billion by selling 25 million shares during its opening day IPO. The company closed its first day on the market with a market cap of $18.1 billion.
Not surprisingly enough…
Unity Software’s big splash in the stock market is a testament to the booming potential of the gaming industry.
It is noted by recent estimates that the world’s current 2.7 billion gamers—and counting—will spend more than $160 billion on games in 2020 and increase it to over $200 billion by 2022.
That’s a lot of room for growth on the stocks value of gaming companies being traded in the market today.
Things to know about Unity Software
Unity Software popularize the concept of “gaming-as-a-service” which has become a standard technology in the gaming industry by giving developers a platform to create, develop and maintain new games.
And did you know?
It is believed that Unity Software’s Unity engine was used in the creation of more than 50% of the top 1,000 mobile games marketed on Apple store, Google Play today.
“It was designed from the ground up, to reflect what we do as a company,” Unity Software Chief Executive John Riccitiello said in a statement “This is not a normal company. We are building a broad platform at the individual level. Hundreds of people here make consequential decisions”, referring to the importance of the Unity engine in the emergence of independent mobile game developers.
Wait, there’s more…
Other than the billion-dollar gaming industry and market, Unity Software’s Unity platform is also very appealing even to the non-gaming community.
“Today, Fortune and Global 500 companies in industries such as architecture, engineering, construction, automotive, transportation, manufacturing, film, television and retail are using Unity across many new use cases, including automobile and building design, online and augmented reality product configurators, autonomous driving simulation, and augmented reality workplace safety training,”-Unity Software said in a company statement.
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A busy week of strong IPOs
Unity Software isn’t the only company that debuted with a strong performance. Cloud company Snowflake ( ) and DevOps Solutions company JFrog ( ) also made a pair of blockbuster debuts.
SNOW enjoyed a 113% increase from its IPO value while FROG achieved a 47% increase on the first day of trading for these two companies.
You can also watch out for these two promising stocks on the eToro Trading Platform as well as these two stocks are considered BUY.