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Gamestop's stock goes down by 10% on Xbox 720 anti-used game rumor

Gamestop’s investors aren’t liking the new anti-used game rumor that sprouted today.

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gamechup.com
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nrvalleytime1266d ago

If the rumor proves true, Game Stop is going to live up to its name in an unanticipated way.

Smurf11266d ago BadLanguageShow
3-4-51265d ago

why?

Why do people want Gamestop to fail?

Where will you buy these Niche games, a year or so after release for a cheap price ?

You will ALL have to resort to buying online...

Which means you can't see your product before you buy it, and you can't have it that day you have to wait.

I'm sorry, but If I want to play a game today...I drive myself to the store...purchase and do so..

ThanatosDMC1265d ago

What niche games? You have Youtube to see gameplay or trailers. TwitchTV and the like for live stream. You have newegg, amazon, bestbuy, etc to buy games. Newegg let's you buy games without shipping and tax (most state).

There's also other stores other than Gamestop that you can get the game day 1.

Anon19741265d ago

This just looks like profit taking to me. The stock was trading near it's yearly high just yesterday so it's not surprising to see some profit taking immediately following, and a 10% swing in share price really isn't that dramatic these days. The highest the stock seems to manage for the past 4 years is around that $27-28 range and we've seen this type of selling activity play out previously when it nears those numbers.

Still at $24 today, looking better than the lows it hit back in Jul when it was closing at $16. Just last week it was trading at $23 before spiking up to $27 before pulling back today.

I makes me smile when I see these articles try to tie trading activity into some sort of event. If this rumor leaked and the stock instantly plunged 50%, maybe you've got a story, but this just looks like normal trading activity.

user39158001265d ago

I hope its only bs rumours, cause no one will win, ms will loose customers big time, gamestop shares will drop inmensely, we gamers will be stock at home unable to take the game to a diferent place, ie your friends console. If they have lost 11% on shares right now and its only rumours, imagine what will happened if this turn out to be true. Gamestop main income are from used games not from new reatailer prices. I see it already, over half of their stores will close withing 2 years and withing 5 gamestop will go the blockbuster route. Games will be distributed on online downloads, redbox, netflix mailed in, stream and so on.

onyoursistersback1265d ago (Edited 1265d ago )

Lol funny!!
On topic: like any company/business they need to save money. GameStop already conformed its gana close 500 stores this year.
Reason: I think it has to do with next gen not playing used games/or the becoming fully Digital down load only.

TheGamerDood1265d ago

Gamestop's CEO must be crying at this point. lulz

+ Show (5) more repliesLast reply 1265d ago
Smurf11266d ago

Err... dunno why that was flagged for bad language but yeah Gamestop will be in trouble if this rumour is true.

Rockefellow1265d ago

You posted two words, one of them being a swear word. What do you think bad language is? Poor spelling?

Temporary1265d ago

Im sure you realize what the words "Bad Language" mean .... ... ... .... .. ..... right?

stuna11265d ago

GameStop has been in trouble for a long time, they just didn't realize it!

Belking1265d ago

That's total BS. GS stock has been going down way before this. And stocks don't fall just because of rumors.

nrvalleytime1265d ago

While the stock has been going down, the posted image shows a one-day loss, not a cumulative snapshot of any other period. So, no - it doesn't appear to be as ridiculous as you think.

And believe it or not, stocks live and die on rumors just as much as official announcements.

Belking1265d ago

"And believe it or not, stocks live and die on rumors just as much as official announcements."

if that's the case then Sony and a lot of other business would cease to exist now.

LightofDarkness1265d ago (Edited 1265d ago )

One man practically bought the entire British economy for pennies on the pound in the late 1700s based on the rumour that Napolean had won at Waterloo. A rumour he spread himself, but a rumour nonetheless. And that is their power.

In fact, the entire economy is essentially a "rumour". The value of your currency is based on speculation, as are many other things.

Jek_Porkins1265d ago

This is stupid, it's like these rumors are put up in order to force actual comments about the systems. Just let the companies reveal what they want when they want to.

Funny thing is, these are the exact same rumors we've heard in the past, it'd be total suicide to go this route, stores like Gamestop probably wouldn't even carry the next Xbox if this were the case.

Also, there are almost 80 million Xbox 360's in the world, only 40+ million of those are Xbox Live users, do the math.

The Wii U lets you play used games, the PS4 will probably allow used games, it would be like Microsoft was trying to launch with a disadvantage. As for Kinect 2.0, we all knew that was true a long time ago, the OFFICIAL Microsoft documents listed that. Hopefully it's 1:1 and kept as an option, I use Kinect a lot for voice commands and some of the games can be fun, but I prefer the good ol' controller for the most part.

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