This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Twitch is a popular video game streaming site, where users can watch other players either on PC or gaming consoles such as the PS4 and Xbox.
This will give Amazon an online forum of more than 55 million monthly active users, and it will be able to now offer a strong video ad offering in its inventory.
Its Amazon Prime offering also gets another boost on the entertainment front, which will be more leverage for its own mobile and tablet computer business including the new Fire Phone.
Amazon’s stock prices rose at the start of last night’s trading session, as reports leaked out about the acquisition before it was officially announced during the later part of the session. It closed 0.73% higher at $334.02.
On a technical basis, there’s no clear price action on the stock price yet. It previously made a higher high before making a lower low. The share price looks likely to test its resistance of around $340. More conservative traders may want to watch out for the stock to break above this before considering an entry.