Enthusiast Gaming Holdings ($EGLX): tapping into the massive opportunity?

Enthusiast Gaming Holdings ($EGLX) is a Toronto-based digital media company that recently saw its market capitalization cross $1.08 billion after the stock surged 482% since November 2020.

The company works with YouTube influencers to reach an audience of enthusiastic gamers, hence the name. According to its latest report, the company owns a hundred gaming sites, over 1,000 YouTube channels, and reaches out to over 300 million gamers every month. This audience is monetized through ads, live event ticket sales, and sponsorship deals.

Enthusiast Gaming could be considered the ESPN of digital games. If e-game tournaments and live streaming become more popular than traditional games, Enthusiast Gaming could be worth way more than its current valuation despite the recent run. For investors with an appetite for risk, this could be the perfect long-term bet.

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