Game Stocks Drop as Wall Street Crashes
The US economy is crashing, as they say, but this year has been the worst for gaming companies, as every gaming company out there posted huge losses after the US House of Representatives voted down a bill to rescue the financial sector with $700 billion of taxpayer money.
Gamespot has all the nitty gritty details:
The share price of Activision Blizzard (World of Warcraft, Guitar Hero World Tour), the newly minted biggest third-party publisher on the planet, slid 13.8 percent ($2.26) to end the day at $14.12. Former top dog Electronic Arts (Madden NFL 09) saw $3.63 shaved off of its stock price, ending the day down 9.16 percent at $36 even.
THQ (Saints Row 2) lost 7 percent, or $0.87, to close at $11.48, and shares in Take-Two Interactive (Grand Theft Auto IV) lost 4.52 percent ($0.73) to close at $15.43–nearly $10 less than its asking price one month ago.
The site notes that even overseas publishers and console manufacturers weren’t exempt from the carnage, as Sony, Microsoft and Nintendo all posted significant losses.
















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