I last wrote on Hasbro (NASDAQ:HAS) in early August in a piece titled "Hasbro: Further Upside Possible," when it was trading for $98.82. Subsequently, the share price of Hasbro hit a 52-week high of $109.60, but it has given back much of the gains to settle at $100.75 at the time of writing. I believe there is potential for the shares to rebound and will explain why in this article.

In September, Hasbro revealed that it had formed a partnership with Epic Games (in which Tencent (OTCPK:TCEHY, OTCPK:TCTZF) owns a 40 percent stake) to introduce a variety of products specific to the popular game Fortnite. Hasbro president Jonathan Berkowitz described the game as a “cultural phenomenon with legions of players worldwide”. The battle royale megahit has millions of players hooked globally and has brought its developer “hundreds of millions” of dollars. The founder of Epic Games is now reportedly a billionaire. The collaboration allows Hasbro to ride on the popularity of the game and increase the demand for its NERF guns.

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