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Market freefall drags down game stocks

Though the US economy has been listing during 2008, analysts have been touting game stocks as a safe bet. In a May online column for the financial weekly Barron's, Signal Hill Capital Group Senior analyst Todd Greenwald called the game industry "virtually recession-proof." In a piece aired last week, National Public Radio said games' are growing more popular because they offer cost-effective escapism, much like films did during the Great Depression.

Unfortunately, today's massive market loss affected even the most prosperous of publishers. As the Dow Jones industrial average shed a whopping 777.68 points (6.98 percent)--the biggest one-day point drop in history--the NASDAQ composite index was also clobbered, falling 199.61 points, or 9.14 percent.

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gamespot.com
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