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Saturday, 11 October 2008 12:57

Gaming and console making companies? stocks plummet

Written by Nedim Hadzic

ImageImage

No time for fun and games, eh?

 

It surely blows being a gaming company, or any kind of company for that matter, at a time like this, when we see more and more companies’ stocks plummet like it's 1929.

In just four weeks, Wall Street saw Activision drop 28%, THQ 39%, EA 37% and Take Two by 40%. Console makers didn’t fare any better as Microsoft dropped by 14% this month and Sony by 33%.

So, all the talk about gaming business not being affected by the recession turns out to be a bunch of half-witted predictions.

You know, as crazy as this might sound, maybe we should look for other solutions such as making a console that has “DON’T PANIC” written all over it. Well, it helped The Hitchhiker’s Guide Trough Galaxy to outsell its dreaded adversary Encyclopedia Galactica, it just might help us get through this recession.

I wonder what would analysts have to say to that? (They would tell you to go to the 13th floor of Infinidim Enterprises and sell the Hitchhiker 2.0 in a few gazillion parallel universes. I'm off to Lamuella to get some sandwiches for the weekend. sub.ed.)

More here.

Last modified on Saturday, 11 October 2008 13:23
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