It’s one of the classic Monopoly thoughts we all have as kids. “Hey, wouldn’t it be great if this was REAL money?” From April 20, the creators of Hollywood Stock Exchange will be turning their game into a bone fide futures trading system. Who wants to play now? More »
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 »
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.
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]
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 »
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 »
Previously, we reported that Microsoft’s Robbie Bach unloaded $US6.2 million in company stock between May 2 and May 30th (right before the July 5th announcement of Xbox 360′s warranty extension). That number was and is still completely accurate.
But it turns out that Bach had already unloaded an additional $US3 million in Microsoft stock on May 1st. (A late SEC filing caused many to overlook this number before.) So that brings the total to $US9.2 million shady stock practices by Robbie Bach. Ironically, the stock didn’t plummet and all is good in the world. Other than, you know, Bach being front page news on MarketWatch.
Microsoft’s Bach sold more stock before Xbox news [via maxconsole] More »
