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Should You Buy the Dip in Corsair Gaming? -Breaking


© Reuters. Do You Need to Buy Corsair Gaming’s Dip?

The stock price has fallen significantly despite Corsair Gaming’s (CRSR), recent product upgrades and new products. So, let’s find out if it is wise to buy the dip in the stock despite the company’s pedestrian financials. Keep reading.Corsair Gaming, Inc., Fremont, Calif., one of the world’s leading developers and producers of high-performance gaming gear and technology. It has sold approximately 190 million streaming and gaming products. This company has been prolific in the development of new products, while the increase demand for PC gaming equipment during the COVID-19 pandemic has helped drive its sales.

However, the stock has declined 29.7% in price year-to-date and 7.5% over the past month to close yesterday’s trading session at $25.46.

Currently, CRSR trading at 50% below its 52 week high of $51.37. It reached this level on November 24, 2020. CRSR was negatively affected by higher-than-expected logistic costs in its second quarter. These logistics costs will likely continue to rise in the third quarter. Global logistics and supply chain problems are expected to impact CRSR’s revenue, particularly in light of the shortage of GPUs available for retail channels. Consequently, the company has cut its full-year 2021 revenue guidance to $1.83-$1.93 billion from $1.90-$2.10 billion So, CRSR’s near-term prospects look uncertain.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.