Shanda Games Booming Due To The Boom In Chinese Gaming Industry

Shanda Games (GAME) an online game developer, announced the iOS version of Million Arthur. This was taken as a very positive signal and Shanda Games stock price rose ~9% on stronger volumes. Given its downfall over the past years, Shanda Games stock has chances of getting back in the near future due to recent contract wins and product innovation. However, the catch is that the fundamentals aren't as great as it must be for ‘great companies’. The average analyst opinion on Shanda Games stock is an ‘outperform’ according to S&P Capital IQ.

Shanda Games stock chart
Source: Shanda Games Ltd. stock chart by Amigobulls

Our other stock market updates:

Zix order book looks good but earnings remain a concern

Yahoo Stock doesn't seem to recover from its downfall yet

Baidu Stock: Pre-Market sentiment isn't too exciting

Google buys stake in Himax technologies

Read our news letter here- Amigobulls internet stock updates: July 24, 2013

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Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice. Buying and selling of securities carries the risk of monetary losses. Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions. Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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