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Submitted by Smurf1 1102d ago | news

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. (GameStop, Industry, Xbox 360, Xbox One)

nrvalleytime  +   1102d ago
If the rumor proves true, Game Stop is going to live up to its name in an unanticipated way.
Smurf1   1102d ago | Bad language | show
Rockefellow  +   1102d ago
7/10 made me smile
perfectCarbonara  +   1102d ago
haha, I cried of laughter.
3-4-5  +   1102d ago

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..
ThanatosDMC  +   1102d 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.
Anon1974  +   1102d 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.
RickHiggity  +   1102d ago
Well said XD
user3915800  +   1102d 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.
onyoursistersback  +   1102d 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.
#1.7 (Edited 1102d ago ) | Agree(0) | Disagree(1) | Report | Reply
TheGamerDood  +   1102d ago
Gamestop's CEO must be crying at this point. lulz
Smurf1  +   1102d ago
Err... dunno why that was flagged for bad language but yeah Gamestop will be in trouble if this rumour is true.
Rockefellow  +   1102d ago
You posted two words, one of them being a swear word. What do you think bad language is? Poor spelling?
Temporary  +   1102d ago
Im sure you realize what the words "Bad Language" mean .... ... ... .... .. ..... right?
stuna1  +   1102d ago
GameStop has been in trouble for a long time, they just didn't realize it!
Belking  +   1102d ago
That's total BS. GS stock has been going down way before this. And stocks don't fall just because of rumors.
nrvalleytime  +   1102d 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.
Belking  +   1102d 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.
LightofDarkness  +   1102d 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.
#4.2 (Edited 1102d ago ) | Agree(8) | Disagree(0) | Report | Reply
Jek_Porkins  +   1102d 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.
sway_z  +   1102d ago
Awww poor gamestop lool

Anonymous will be extremely active if Microsoft or Sony take the dictatorship route next gen...
TheEnigma313  +   1102d ago
I don't like gamestop, but this used game fiasco is stupid. So basically I can sell whatever I own except games? This is crazy.

Some people don't like to hold on to games and some people don't have to money to pay 60 bucks for a game.

If this is true, I'll wait for every game to hit the bargain bin.
#7 (Edited 1102d ago ) | Agree(10) | Disagree(1) | Report | Reply
Tetsujin  +   1102d ago
That's the route I've been going lately; buying at bargain bin prices. You still support the company and they haven't lost a sale, you just purchase games that you can afford, when you can afford it. I don't get where people start talking about "skipping" next gen if they have blocks on used games when if you play it smart your still sending a message.

However at the same time no I don't approve of blocking used games, if I want to test a game out that doesn't have a demo, and if no one else has that copy, how am I to test it first? Watching videos on the internet can only go so far before people want to actually test first.

With Game Stop losing stock, if it's gotten lower like 20% or more then that's news worthy, however at 10% like someone mentioned above that's normal.
delboy  +   1102d ago
Somehow I believe in used games rumors.
Sony or Ms could just make a official statement and denie everything, but they are silent.
And it is not funny when someone is losing money, that's why I don't think it's a joke or rumor.
jakmckratos  +   1102d ago
Uhh u sure it has to do with these rumours and not the fact that 500 stores are closing?
momthemeatloaf  +   1102d ago
This will kill console gaming. When you start to get greedy by locking out avenues to consumers the consumers become confused and lost and move on. Some big company will be lurking in the shadows and create something that will steal all the casual fans and console gaming will die, if all of this is true.

Console gaming will become like PC gaming. Only for elitist before it's inevitable death.

Used games are what help create gamers. I would have never bought battlefield 3 if it wasn't for my used Bad company 2. Borrowing games off friends is another example of me becoming a fan of a frachise and purchasing titles down the road. These companies are only looking at one side of the situation.
#10 (Edited 1102d ago ) | Agree(0) | Disagree(0) | Report | Reply
Nodoze  +   1102d ago
Might serve them right for bowing to MS this generation. As anyone who has ever worked with or aligned with MS in the past knows MS will ALWAYS screw you over.

If you sleep with the devil, you are going to get fckd!!

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