News

Video Game Stocks Hit Hard (Just Like Everyone Else)

By Michael McWhertor on September 30, 2008 at 12:00 PM

Things are tough all over. Despite being branded as a “recession proof” industry, the publicly traded stocks of video game publishers dropped like a rock today, following news that the US House of Representatives had rejected a $700 billion bail out for failing financial services.

Hardest hit? It’s looking like Activision Blizzard in the States, which dropped nearly 14% today. GameSpot ran the numbers on the publishers trading on the NASDAQ and it’s not looking pretty. Foreign stocks got a beating today too, with Ubisoft losing value to the tune of $17.92 over a period of a few hours. Ouch.

Careful out there, kids. Watch out for falling investors.

Market freefall drags down game stocks [GameSpot]

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