Turtle Beach Shares Soar 1000% After Fortnite Boom
Shares in gaming headset manufacturer, Turtle Beach, have soared over 1000% year-to-date, following rising global demand for Epic Games’ ‘Fortnite’ – making the audio brand the Nasdaq composite’s largest gainer.
As per Bloomberg, Turtle Beach asserts it’s the world’s “dominant player” in the console headset market, driven by “super human hearing technology” which allows gamers to detect rivals encroaching behind them.
Epic Games’ Fortnite has collected over 125 million users in less than a year after release – much to Turtle Beach’s benefit. Some analysts assert the company’s winning streak won’t subside anytime soon, whilst others forecast a downturn.
Should Fortnite’s popularity fade, analysts assert rising multiplayer format game demand will increase the need for advanced console headsets.
Fortnite has also been credited for capturing players of both sexes, and broadening the global gaming demographic.
Earlier this year, Turtle Beach changed its management lending agreement and equity offering, thereby increasing analyst confidence in longevity.