Gravity Co., LTD.

  • Exchange: NASDAQ
  • Ticker: GRVY

Gravity is a video game publisher and owner of the franchise Ragnarok Online.


January 03, 2021

Update - Gravity, the South Korean game publisher, has increased its market cap by 70% since first mentioned in edition #8 (13/09/20). The core thesis was that it’s primary game, Ragnarok, represented sustainable and profit-generating IP, rather than a one-off hit. Plus the stay-at-home economy made gaming an attractive space to look at. In their latest quarterly report they announced revenue growth of 70% YoY and profit growth of 200% YoY.

Watch out for - Gravity has continued to build on its Ragnarok franchise, launching two new mobile games. Ragnarok Next Generation has become the #1 game in Taiwan and Hong Kong as well as number #2 in Macau after a month of launching. Ragnarok Origin (currently just in Korea) is #1 in Korea’s homegrown app store One Store and #4 on Google and Apple’s app store. These are strong signs, with player popularity usually preceding commercial success. Gravity has also been working with Tencent on a game to be released in China. Historically, Gravity has been unable to release games to Chinese users due to political reasons. Whilst it is not guaranteed, if the game is approved this could represent a huge new user base for Gravity and working with Tencent, China’s largest game developer, surely gives them the best possible chance.

gravity stock chart