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SEATTLE - Amazon (NASDAQ:AMZN) Games, in collaboration with Glowmade, has announced the launch of "King of Meat," a new online cooperative action game. The game allows up to four players to engage in combat within the fantastical realm of Loregok, where they will encounter dragons, trolls, and skeletons, all while navigating through treacherous dungeons designed to entertain a virtual audience craving spectacle and bravery.
"King of Meat" is set to release on PlayStation 5, Xbox Series X|S, Steam, and Nintendo Switch (NYSE:SWCH). The game emphasizes creativity and self-expression, offering players the opportunity to design their own dungeons and customize their characters with a wide array of outfits, accessories, and combat moves.
Christoph Hartmann, Vice President of Amazon Games, stated that "King of Meat" represents a significant addition to their portfolio, providing a unique gameplay experience filled with player creativity and exploration. The game is developed by the independent studio Glowmade, based in Guildford, England, known for its commitment to inclusivity and community-driven content.
Jonny Hopper, co-founder and Studio Head of Glowmade, highlighted the game's focus on "joyful creativity," allowing players to construct elaborate dungeons and customize their characters in outlandish ways. The game aims to deliver humor and surprise, offering a fresh take on the dungeon-crawling genre.
"King of Meat" joins Amazon Games' expanding lineup, which includes successful titles like "New World" and "Lost Ark." The company is also working on several upcoming projects, including a new "Tomb Raider" series entry and a "The Lord of the Rings" MMO.
The announcement indicates that "King of Meat" is poised to provide an engaging and imaginative experience for players seeking cooperative play and creative freedom. The game's release date has not been specified, but interested players can follow updates on the official website and social media channels.
This news report is based on a press release statement from Amazon Games.
In other recent news, Morgan Stanley maintains a positive stance on Amazon, citing potential for long-term growth and profitability strategies such as reducing service costs and leveraging advertising. Meanwhile, Standard & Poor's has revised its outlook on Warner Bros Discovery (NASDAQ:WBD) to "negative" due to concerns over a decline in the company's cable TV business. In production updates, Rivian (NASDAQ:RIVN) Automotive Inc. has temporarily halted the production of its electric delivery vans for Amazon due to a parts shortage. In the streaming sector, FuboTV (NYSE:FUBO) Inc. and Amazon have expanded Fubo Sports Network's availability to Prime Video Channels in Canada. Walmart (NYSE:WMT) Inc. has revised its annual sales and profit forecasts upwards following robust consumer spending. Lastly, significant workforce reductions are being observed in tech sector companies such as Amazon, Microsoft (NASDAQ:MSFT), IBM (NYSE:IBM), and Intel (NASDAQ:INTC). These are recent developments that investors should take into account.
InvestingPro Insights
In the context of Amazon's latest venture into the gaming industry with "King of Meat," it's worth noting the company's financial health and market performance to understand the broader implications of its growth strategy. According to InvestingPro data, Amazon (NASDAQ:AMZN) boasts a substantial market capitalization of $1.87 trillion, underlining its position as a tech behemoth with the resources to expand in various sectors, including gaming.
The company's Price to Earnings (P/E) ratio stands at 41.7, which is considered low relative to its near-term earnings growth, as per one of the InvestingPro Tips. This could suggest that Amazon's stock is potentially undervalued based on its future earnings potential, possibly reflecting investor confidence in its diverse portfolio and growth prospects. Additionally, Amazon's revenue for the last twelve months as of Q2 2024 reached $604.33 billion, with a solid revenue growth of 12.32%, indicating the company's ability to increase its sales and market share consistently.
Another InvestingPro Tip highlights that Amazon operates with a moderate level of debt. This financial stability, coupled with a robust gross profit margin of 48.04%, suggests that the company has a strong foundation to invest in new ventures like "King of Meat" and sustain its market dominance. For readers interested in deeper financial analysis and additional insights, there are 22 more InvestingPro Tips available for Amazon at https://www.investing.com/pro/AMZN, providing a comprehensive overview of the company's financial metrics and market position.
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