ATVI - Not Meeting Expectations

Hi Friends,

One stock that has been a bit of a disappointment to me is Activision Blizzard, ticker ATVI. I purchased the stock back in 2017 so have had it a few years now. My average purchase price is $62 so I am up around 20%, but that is not great for the last 3 year span. Here is the chart:

I had purchased for a couple of reasons. The first was I thought (and still think) gaming is moving more toward streaming, subscriptions, advertising, game add ons, etc which is positioned well with a seemingly shift towards more screen time by society in general. The second reason was Esports, which I expected (and am still expecting) to eventually become as big as regular sporting events. The Esports fans are diehards, but most of them are players themselves, so maybe the market for true "watchers" isn't as big as I was thinking.

Regardless, with the coronavirus quarantines taking place, I thought ATVI would take off in a big way, but it just has not happened. I am hearing more about game delays, Esports not meeting up to the hype, more competition, worse than expected guidance, etc so it has been a bummer.

I am still riding this one out, but maybe I need to look into some competitors but I am at a disadvantage as I am not a gamer and am not familiar with which games (and thus, companies) are poised to gain in popularity. Any help from my fellow investors or any true gamers?

Thanks for coming by,
Brian