I think this is a good way to play the increase in modern warfare/gaming in general. Cyclical business, typically ~50% of revenue in the Christmas quarter.
They had a record year in 2018 due to fortnite. Some slowdown in 2019 and were forecasting a further slowdown 2020 due to last year of console cycle.
Google trends look very promising. They had around $40m in inventories reported in march and some headset models are showing sold out. Strong brand awareness in anyone who played call of duty in late 2000’s early 2010’s and remembers turtle beach headsets giving a competitive advantage in multiplayer. Many of those people now locked down and playing ‘cod’ again with all their friends.
Financials wise they used the huge fortnite boost to pay off debt and acquire roccat a German PC accessories producer. Now little debt, ~140m market cap, very good free cash flow the last 2 years.
They report earnings 7th May. I think may be a better earnings play then the obvious activision, though long term I prefer activision.