GTA:VC stories for PSP continued to underperform. The game sold 156,600 copies in December '06, which is only slightly more than the 125,500 copies sold in November '06 for a total of 282,000 copies sold.
At the same time last year, GTA: LC stories sold 238,500 copies in November '05 and 401,000 copies in December '05.
GTA:VC Stories will sell nowhere near GTA: LC Stories.
I have to agree with Alpha and monkspider, this stock is far overvalued.
I would just like to add one more observation. GTA Liberty City Stories is the #1 best selling game of all time for the PSP and it has only sold 1.3 million copies in North America. Do people really expect yet another cloned sequel to move twice as many copies? I don't.
Disclosure: I am short Grand Theft Auto: Vice City Stories (PSP)
Yeah there's been wide-spread selling since the November numbers came out but I think we should wait for December numbers to really get an idea how all these games will sell. GTA games tend to maintain sales for a long time. But even then, this one seems way overvalued with such a low first month...GTA games tend to open big.
I find this stock difficult to evaluate. It will have strong legs that should help it sell decently well into the future, but it is certainly overpriced at 2.7 million, without question.
GTA Liberty City Stories has sold about 1.3 million copies so far in North America, and still manages to sell at a decent pace each month.
It is difficult to say exactly how many copies of VCS will sell in the PSP's lifetime, but I think the current price definitely justifies some kind of a substantial correction.
This is the most overvalued stock yet. VGcharts has this game selling 125,500 copies in November. Notice the game came out 10/31 so it had the whole month to sell. This game is trading at a 21.9x multiple!
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Even at this price I don't know if this will do as well as GTA: LC Stories.