The share price of Codemasters (CDM) raced ahead to another all-time high as the videogame developer revealed revenues and profits are expected to be ‘significantly’ ahead of current market expectations.
Shares in Codemasters have nearly doubled since lock down as more gamers flock to its high-profile racing videogames – continuning their meteoric rise since we last featured the growing Codemasters share price in June.
Following today’s trading update, shares gained by as much as 9% setting a new all-time high of over 402p.
The racing specialist that its revised expectations for the full year ending 31 March 2021 is due in part to its F1 2020 video game.
New releases such as Fast & Furious Crossroads has also performed well since its release a few days ago – showing that appetite for videogames is not slowing down, even with lock downs easing.
With two big name racing titles to come in the shape of Project Cars 3 and Dirt 5 in the coming months – Codemasters will be hopeful of keeping its foot on the accelerator.