Alpha Recommendation: BUY Playside Studios (PLY)
Date: 16/08/2024
*** GENERAL AVICE ONLY***
PlaySide Studios Limited (PLY) develops video games for multiple platforms including mobile, PC/Console, virtual reality and mixed reality, with a portfolio of approximately 60 titles.
Rationale:
PLY had great news in May where they upgraded their guidance to the high side of expectation. More importantly was the 42% upgrade in EBITDA which means management are controlling costs prudently. PLY recently signed a deal to develop a Game of Thrones RTS game. PLY results are due on Friday 23rd August 2024, we are happy to back management to deliver again.
PLY has been sold off recently and trading around the 60c level. This provides us an entry point where the downside risk is very easy to manage
Look to get long before earnings are released
Trade Strategy:
Buy Playside Studios (PLY)
Long Entry: Buy up to 63c
Target 90c
Stop 45c
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.