Video game stocks Activision Blizzard Inc. (ATVI), Take-Two Interactive Software Inc. (TTWO) and Electronic Arts (EA) have soared in 2017, with year-to-date gains through Friday of 70%, 112% and 51%, respectively. Meanwhile, explosive growth of so-called in-game spending, rather than the introduction of new games, should be the key driver of more gains during the next two years, according to research by Goldman Sachs Group Inc. In-game spending generates considerably more revenue than initial sales of the games themselves, and a particularly lucrative category includes virtual goods, called items, that are used by characters in a game.
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