Axion Ventures Inc. (AXNVF) is a video game stock which is looking strong on my screen because of multiple reasons. Analyst expects Axion’s revenue to be $30.2 million for fiscal 2019 with an adjusted EBITDA of $10.3 million. Moreover, on the chart, AXNVF is very close to its big support of $0.58.On Friday, AXNVF’s stock closed at $0.60.
Keep on eye on AXNVF as this morning company has announced a BIG update stating the Delivery of Rising Fire ‘Season 1’ to Tencent
Axion Ventures Inc. (AXNVF) is a video game company with majority ownership in Axion Games, an online video game development and publishing company headquartered in Shanghai, China as well as in True Axion Interactive Ltd., its video game development company headquartered in Bangkok, Thailand cofounded with True Corporation.
Seasoned investors understand that the mantra “buy low and sell high” isn’t just simple advice, but the best way to successfully navigate the stock market. However, despite this tried-and-true method, too many investors act on stock price alone when deciding to buy and sell. Often a drop in stock price can offer investors an opportunity to buy into a company for cheap and reap the benefits once that stock rebounds, which is how PI Financial analyst David Kwan feels about Axion Ventures (TSXV:AXV) (OTCQX:AXNVF).
The gaming investment company’s share price has been dropping in recent months, which makes it a cheap pickup according to Kwan.
“The recent share price weakness is a good buying opportunity in our view, especially with some key upcoming catalysts, most notably multiple licensing deals for RF (and possibly Invictus) as well as updates on the ramp of Rising Fire, particularly after the major content payload set for release next month,” Kwan said.
Axion Ventures’ finances also surpassed Kwan’s expectations after the company reported total revenue of $8.9 million for 2018, up from $6.6 million the previous year. On Adjusted EBITDA, Axion generated $1.7 million, which was also better than Kwan’s negative $1.8 million forecast. Kwan chalked up the improvement to higher-than-expected gross margins and lower-than-expected operating expenses.
Moving forward, the analyst expects Axion’s revenue to be $30.2 million for fiscal 2019 with an adjusted EBITDA of $10.3 million.
Delivery of Rising Fire ‘Season 1’ to Tencent
Today morning, AXNVF announced the official delivery of ‘Season 1’ of Rising Fire to distribution partner, Tencent. This content payload, officially named Season 1, represents nearly 6 months of content creation and technical tuning by Axion’s Shanghai HQ on various attributes of Rising Fire for which details are outlined below.
As Tencent uploads and integrates Season 1 onto their WeGame servers over the next 14 days, users are expected to be able to play this newest version by the end of June 2019. Axion will make gameplay footage available in the near future.
Axion Launches Two New Games in Two Weeks
Apart from the rollout of Rising Fire on TencentHolding Limited’s (OTC: TCEHY) WeGame platform, which has over 200 million users in China, Kwan will be keeping his eye on Axion’s highly anticipated mobile game INVICTUS: Lost Soul game, which officially launched at the end of April.
INVICTUS, which is the first AAA quality, eSports focused mobile game made in Thailand, was developed by True Axion Interactive (TAI), a joint venture between Axion Ventures and the True Corporation.
AXNVF also launched a second game in a matter of two weeks, a WWII flying battle royale-style game called Fighter Royale: Last Ace Flying. The game was officially launched on May 15 on Steam, a video game digital distribution platform that boasts 30,000 games and 47 million daily active users.