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Activision Bosses Dump $60 Million In Activision Stock
7:30PM Luke Plunkett | Activision CEO Robert “What, Me Worry?” Kotick, and Activision co-chairman of the board Brian Kelly, last week sold off around $US60 million in Activision stocks. More »
News
Nintendo Shares: So, So Oversold
5:30PM Luke Plunkett | According to financial experts Barron’s, shares in Nintendo are now “oversold”. Sounds bad! But, really, it’s not, and if any of you are looking for a way to make a quick buck, read on. More »
News
Video Game Stocks Hit Hard (Just Like Everyone Else)
12:00PM Michael McWhertor | 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] More »
Nintendo Stock Hits All-Time High
5:00AM Brian Crecente | Nintendo stock spiked at 64,800 yen on Wednesday, an all-time high, on speculation that the company might be bumping up its earning forecast again. The stock dipped back down to 64,300 by closing, a 2.7 percent increase over the day, Reuters reports. “We believe Nintendo’s talent in creating new markets, evident from the launch of the DS and Wii, could bring it close to the level of Apple, whose high valuations are due in large part to its innovative business model,” Goldman said in a report. All of this a day after Nintendo dropped $17 million on free (get out of a lawsuit) Remote Jackets. Nintendo’s certainly riding high going into the holidays. Nintendo shares hit record high on GS “buy” rating [Reuters] More »
SEC May Be Filing Charges Against Take-Two?
9:00AM Maggie Greene | The Securities and Exchange Commission is thinking of filing charges against Take-Two Interactive in connection to the company’s stock option practices. The former CEO and chairman of Take-Two pled guilty in February to “first-degree falsification of business records” for backdating stock options in an illegal manner and was ordered to pay a restitution of $US7.2 million; in July, two more senior executives pleaded guilty in connection with the same stock options shenanigans. Take-Two received a “Wells” call from the SEC’s enforcement division, notifying them the division will be asking the Commission to file charges. Whoops: More »
