Stock, Drop and Roll
Posted on Monday, June 19 @ 21:08:34 Eastern by Ben_SilvermanWe gamers are quick to point out how awesome our industry is doing. We gamers are also stupid and wrong.
A New York Times piece pulls back the curtain on the little industry that could by pointing out the recent stock woes of the four main third-party companies: EA, Activision, THQ and Take 2. Following E3, each of these giants has watched their stock price flutter and fall to the collective tune of 6 billion in market cap. That’s, like, four PS3s!
But before we slam the coffin lid and hammer in the nails, keep in mind that we’re at the end of a platform cycle, which has historically been matched by a financial lull. And losing money after E3 makes sense since few games ship in the weeks following the show. When Jaws: Unleashed is one of the biggest releases of the month, you know the month sucks.
So I imagine we’ll see a nice fat rebound once we hop out of the summer doldrums and slide into the winter panic. You know, in five months. Read any good books lately?
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