Submitted by Smurf1 877d 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  +   877d ago
If the rumor proves true, Game Stop is going to live up to its name in an unanticipated way.
Smurf1   877d ago | Bad language | show
Rockefellow  +   877d ago
7/10 made me smile
perfectCarbonara  +   877d ago
haha, I cried of laughter.
3-4-5  +   877d 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  +   876d 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  +   877d 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  +   877d ago
Well said XD
user3915800  +   877d 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  +   877d 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 877d ago ) | Agree(0) | Disagree(1) | Report | Reply
TheGamerDood  +   877d ago
Gamestop's CEO must be crying at this point. lulz
Smurf1  +   877d ago
Err... dunno why that was flagged for bad language but yeah Gamestop will be in trouble if this rumour is true.
Rockefellow  +   877d ago
You posted two words, one of them being a swear word. What do you think bad language is? Poor spelling?
Temporary  +   877d ago
Im sure you realize what the words "Bad Language" mean .... ... ... .... .. ..... right?
stuna1  +   877d ago
GameStop has been in trouble for a long time, they just didn't realize it!
Belking  +   877d ago
That's total BS. GS stock has been going down way before this. And stocks don't fall just because of rumors.
nrvalleytime  +   877d 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  +   877d 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  +   877d 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 877d ago ) | Agree(8) | Disagree(0) | Report | Reply
Jek_Porkins  +   877d 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  +   877d ago
Awww poor gamestop lool

Anonymous will be extremely active if Microsoft or Sony take the dictatorship route next gen...
TheEnigma313  +   877d 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 877d ago ) | Agree(10) | Disagree(1) | Report | Reply
Tetsujin  +   877d 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  +   877d 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  +   877d ago
Uhh u sure it has to do with these rumours and not the fact that 500 stores are closing?
momthemeatloaf  +   877d 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 877d ago ) | Agree(0) | Disagree(0) | Report | Reply
Nodoze  +   876d 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!!

Add comment

You need to be registered to add comments. Register here or login
New stories

Everything Wrong With Batman: Arkham Knight

20m ago - Another big game has come to assault our gaming senses, and that means another entry in PlayStati... | PS4

Lab Zero Games Working on new Action/RPG Indivisible

1h ago - Lab Zero Games, known for creating indie hit Skullgirls, revealed its next project today, an acti... | PC

Born of Competition: An Interview with Dag-Erling Jensen

Now - Dag-Erling Jensen, Game Designer of Process Games, answers questions about how the small company was formed, details on how they designed a game in... | Promoted post

Modder Mashes Dark Souls and Skyrim Together, Looks Super Awesome

1h ago - OnlySP: By making use of a variety of community developed mods for The Elder Scrolls V: Skyrim, a... | PC

Dark Souls III Hands-Off Preview Impressions | OnlySP

1h ago - OnlySP: In a dimly lit room full of mist, Hidetaka Miyazaki, Director of both Dark Souls and Bloo... | PC

A Beginner’s Guide to Heroes of the Storm

1h ago - PCInvasion is back from the Nexus with a few bits of advice on starting out in Heroes of the Stor... | PC