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Can Video Games Save Investors? Not Today
Can Video Games Save Investors? Not Today
Alley Insider - September 29, 2008
Submitted by mrahaju (9) at 4:23PM PST on September 29, 2008
Conventional wisdom is that the video game business will survive the recession. The notion is that people who can't afford fancy houses or vacations can still drop $10 on "Eagle Eye" or $50 on Mario Kart. On a day when the markets took a historic nose dive, none of that mattered. Three of the big game stocks did worse than the broader markets. And the two that did slightly better (TTWO & GME) only looked good by comparison.
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7mrahaju posted on Industry News at 4:23PM PST on September 29, 2008. Article: Can Video Games Save Investors? Not TodayConventional wisdom is that the video game business will survive the recession. The notion is that people who can't afford fancy houses or vacations can still drop $10 on "Eagle Eye" or $50 on Mario Kart. On a day when the markets took a historic nose dive, none of that mattered. Three of the big game stocks did worse than the broader markets. And the two that did slightly better (TTWO & GME) only looked good by comparison.[ Oracle ] [ Level 23 ] [ Rank: 9 ]
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Activision-Blizzard (ATVI) -$2.26 (-13.8%)
Electronic Arts (ERTS) -$3.63 (-9.2%)
THQ (THQI) -$0.87 (-7%)
GameStop (GME) -$1.96 (-5.4%)
Take-Two (TTWO) -$0.73 (-4.5%)