Magic: The Gathering Sales Surge 34%, Driving Hasbro to Raise Outlook
HAS sits 30% above its 52-week low of $69.5.
Summary
Hasbro's Magic: The Gathering franchise is on fire, with sales up 34% in the first half, fueled by a record-breaking Marvel-themed card set. The company raised its full-year outlook, and the stock is one of the biggest S&P 500 gainers today. This follows a strong Q2 report earlier this morning showing 16% revenue growth, but the Magic details and guidance raise are new. CEO Chris Cocks called Magic a 'mega franchise,' underscoring its shift from niche hobby to core growth driver. The Marvel collaboration's record first-day and first-month sales signal sustained momentum heading into the second half.
At the time of this announcement, HAS was trading at $90.35 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $12.8B. The 52-week trading range was $69.50 to $106.98. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.