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PUNT OF THE WEEK: Sumo Group shares are up 50% so far this year

PUNT OF THE WEEK: Sumo Group shares are up 50% so far this year

What is it? A Sheffield-based video game developer that counts Sony, Microsoft and Sega among its clients. A member of the AIM 50 index, its

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What is it? A Sheffield-based video game developer that counts Sony, Microsoft and Sega among its clients. A member of the AIM 50 index, its shares have risen by 50 per cent so far this year.

Sumo has just bought an Oregon-based firm called Pipeworks and profits more than doubled to £2.8million in the first half.

Who backs it? Investment house Perwyn is the biggest investor, while other big-name shareholders include Liontrust Asset Management, Blackrock and Premier Asset Management.

Why you should invest Susannah Streeter, senior investment analyst at Hargreaves Lansdown, said: ‘During lockdowns, gaming soared in popularity again, as the multi-player concept meant people could still play and chat with their friends even if they couldn’t leave the house.

‘As the love of gaming has increased, the tills have been ringing for developers like Sumo Group.’

And why you shouldn’t Streeter says: ‘Sumo is starting to publish its own games, which could come with more risk.

‘If they have a big hit on their hands the rewards could be exponential, but a turkey could lead to significant losses.’

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This post first appeared on Dailymail.co.uk

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