GameStop shares fell 8.8 percent today, 17.2 percent since Xbox One announcement

Shares of GameStop closed down 8.8 percent today (from $35.20 to $32.11) and 17.2 percent since the beginning of the week (where it began at $38.76) in the wake of the Xbox One reveal.

For comparison, GameStop shares closed at $25.50 on Tuesday, Feb. 19 (markets were closed on Feb. 19 for President's Day, the day before Sony unveiled the PlayStation 4). On the Friday following Sony's PlayStation 4 announcement, Feb. 22, shares closed at $24.82, a decrease of 2.7 percent. Nintendo revealed the Wii U on June 5, 2012, during E3. On that Monday, June 4, GameStop stock closed at $19.20. On Friday, June 8, it closed at $19.03, a decrease of 0.9 percent.

A possible reason for this week's disproportionate decrease in GameStop's share price could be the still-uncertain future of used games on Xbox One. Following the console's reveal this week, a report surfaced saying that the console would charge players a fee to play used games. Microsoft later characterized the reports as "potential scenarios." Sources tell Polygon that Microsoft has no plans to charge a fee to sell or reactivate games.

Yesterday, GameStop revealed sales of $1.87 billion in Q1 2013, a 6.8 percent decrease from the same period last year. Mobile sales increased 290 percent, while sales of pre-owned goods dropped 7.5 percent.

For GameStop's take on Sony and Microsoft's next-gen consoles, be sure to check out Polygon's interview with the retailer's president, Tony Bartel, conducted shortly after the Xbox One announcement.

More from Polygon

A guided video tour of an Unreal Tournament map

  • Freedom Planet gameplay video

  • Adventure Time trailer

  • Hearthstone: Naxxramas Overview

  • Oddworld: New 'N' Tasty - Overview video

Latest Discussions

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.
Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_5353_tracker