EA’s Apex Legends Updates Not Convincing Investors

EA’s Apex Legends Updates Not Convincing Investors


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EA's Apex Legends Updates Not Convincing InvestorsEA's Apex Legends Updates Not Convincing Investors

Electronic Arts, the maker of the rival PC game Apex Legends, has released the market-awaited update, but it did not impress investors.

Apex Legends, a free-to-play battle royale style game that has over 50 million players on Xbox One, PlayStation 4 and PC, unveiled its second season on Tuesday with changes to maps, characters and weapons.

EA shares fell 5.6% during Friday trading to their lowest level in the past five months. Investor concerns stem from the as-yet-unrealized potential for Apex Legends to compete with Fortnite, Epic Games' battle royale game with nearly 250 million users worldwide. EA was the worst stock in the S&P 500 on Friday.

According to Bloomberg, a video has surfaced on Reddit revealing the flaws of the recently released update.

Games like Fortnite and Apex Legends are free to play, but there is an opportunity for gamers to earn money by selling additional game features such as character and weapon skins.

The second season update generated a lot of interest from gamers and analysts. Bank of Montreal analyst Jerrick L. Johnson raised his EA stock valuation from $ 116 to $ 130 on July 2 based on positive feedback on Season 2 update previews.

EA is up 16.5% this year.