Why the PlaySide (ASX:PLY) share price leapt 8% this morning

The PlaySide (ASX: PLY) share price is on the rise. We look at what news the ASX game developer announced today.

Bernd Struben

Author bio Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel. Areas of expertise Australian and global share markets Macroeconomic and geopolitical trends Real estate Education Economics, University of Michigan Favorite investment quote "The four most dangerous words in investing are: 'This time it's different." — Sir John Templeton

Published March 18, 2021 12:24 pm AEDT

The PlaySide Studios Ltd (ASX: PLY) share price is on the rise today, up 5.3% at the time of writing after earlier posting gains of 8%.

PlaySide is a newcomer to the ASX, with shares first trading on 17 December last year.

We take a look at the ASX game developer's latest video game launch announcement below.

Cheerful Father And Son Competing In Video Games At Home — Image Source: Getty Images

What did PlaySide report today?

PlaySide shares are moving higher after the company advised it has launched a follow-up to its successful Animal Warfare game. The new game in its Warfare franchise, Toy Warfare, is going global, available in 170 countries on the Apple App Store and Google Play Store.

The company revealed that Animal Warfare has already scored 7.7 million downloads and continues to sell well on the US Apple App Store. It's ranked 18 in the strategy genre.

According to PlaySide, players of the new Toy Warfare can "merge and level up dozens of different cute, cuddly and somewhat aggressive toys including action figures, remote control cars, and teddy bears that are sent into epic battles to win gold, glory and the occasional bragging rights".

PlaySide developed both Warfare games with its WARkit system. The company said it expects to use WARkit, which enables the rapid design and development of additional warfare titles, to develop more titles in the future.

Since its initial public offering (IPO) in December, PlaySide has launched 3 original IP titles. Atop Toy Warfare, these include Idle Area 51 and Garbage Truck 3D!!!

PlaySide share price snapshot

ASX newcomer PlaySide Studio's share price is up 52% since it began trading on the ASX in mid-December. Over that same time, the All Ordinaries Index (ASX: XAO) has gained 1%.

The PlaySide share price is down 10.3% so far in 2021.

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