Razer Slithers In The Black For 1H2021

Gaming stocks have performed impressively throughout the pandemic and Razer continues to slither in the black for 1H2021. 

On Wednesday, it announced expectations of net profit of not less than USD 30 million for the 6 months ending on 30 June 2021. 

This is quite the win compared to its after-tax loss of USD 17.7 million for the six months ending 30 June 2020.

Razer had already announced profits for the first time ever last year but faced investors’ wrath when insiders sold 275 million shares of the company in 1H2021, and as the company and founders seemingly played a game of buy, sell and buy.

Even Razer’s healthy balance sheet showing USD 621.8 million cash and its potential entry into crypto couldn’t serve as a lifeline for its stock. 

Regardless, Razer continues to sell more gaming equipment and increase profit margins. Achievement stealthily unlocked.