GameStop shares tumble over Xbox rumors

Specialty retailer sees share value dive more than 6 percent after a report suggested Xbox 720 could block used games.


GameStop shares tumbled today more than 6 percent after sources told Edge the next Xbox could block used games. According to the report, titles for the rumored platform will ship with activation codes and "have no value beyond the initial user."

This would be potentially problematic for GameStop, which generates a significant portion of its revenue from the sale of secondhand games and goods. The analyst consensus is that future platforms--from both Microsoft and Sony--will not block used games.

At press time, GameStop is trading down 6.75 percent to $25 per share.

Edge's report is, of course, unconfirmed. Microsoft has not commented on the speculation or even acknowledged any new platform beyond the Xbox 360. That being the case, rumors are swirling that the company will announce its new console during an Apple-style media presentation in late March, perhaps in conjunction with the 2013 Game Developers Conference.

It appears Sony will beat Microsoft to announce its next-generation platform, as the PlayStation maker is holding a briefing in New York City on February 20 where the company is believed to announce the PlayStation 4.

Read and Post Comments | Get the full article at GameSpot

"GameStop shares tumble over Xbox rumors" was posted by Eddie Makuch on Wed, 06 Feb 2013 11:15:42 -0800
Filed under: Video Games


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