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This year looks like a good year to go hunting for ASX shares to buy in my opinion.
No one really knows what will happen next with share prices, the economy, or anything else of that nature.
However, as investors, it’s probably a good idea to buy shares when the prices are at a lower price rather than at a higher price. That may seem obvious. But, when uncertainty increases, some investors suddenly don’t want to buy assets at discounted prices.
But for me, it’s times like this that make it a good time to buy ASX shares. I have been putting money to work in some of my old favourites as well as some new names.
At the current prices, I think there are plenty of opportunities. In my opinion, these two are looking good after their declines in 2022.
VanEck Video Gaming and eSports ETF (ASX: ESPO)
I think this is one of the most interesting exchange-traded funds (ETFs) on the ASX. It aims to give investors exposure to the global video gaming and e-sports sector.
In this portfolio are names like Nvidia, Activision Blizzard, Advanced Micro Devices, Tencent, Nintendo, Bandai Namco, Electronic Arts and Take-Two Interactive Software.
One of the main things that attracts me to this ETF is the solid underlying revenue growth. According to VanEck, e-sports revenue has grown by an average of 28% per year since 2015. The wider video gaming sector has seen average annual revenue growth of 12% per annum since 2015.
E-sports reflect the convergence of entertainment, video gaming, sports and media businesses. With an active, engaged and relatively young demographic, the stage is set for sustainable long-term growth.
Adore Beauty Group Ltd (ASX: ABY)
Adore Beauty is a leading ASX growth share in the beauty e-commerce space. It sells thousands of products from many different brands.
One of the attractions for me is the heavy fall of the Adore Beauty share price while revenue keeps growing. Since the beginning of 2022, Adore Beauty shares…