USGAME, sector index tracking performance of top companies in the gaming and esports industry, rallied over 60% this year. While gaming is a hot industry, the ongoing rally can be ascribed to a single stock - Gamestop (GME.US). Share price of the company sky-rocketed as retail traders started to pile into the heavily-shorted stock. Thanks to a recent share price increase, Gamestop is currently the biggest stock within USGAME and makes up 32% of the index' weight. As Gamestop is set to open with an over 50% bullish price gap today, the index is set for a higher opening as well.
Investors can take a long position on USGAME CFD if they expect the gaming sector to continue to outperform. They can also take a short position if they expect the gaming industry to start underperforming or in order to hedge their gaming stocks portfolio.
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Gamestop (GME.US) rally sent USGAME index over 60% year-to-date higher! Source: xStation5
