Sony was having a pretty good couple of days, and then everyone wanted to take a dump on their party. Those money people that watch stocks like a hawk noticed that Sony’s stock continues to decline, even after the announcement of a price drop to $299 and a new PS3 “slim” system.
The stock closed 1.4 percent down on the Tokyo Stock Exchange, continuing a downward trend from early August, now down about 12 percent in all.
What’s the deal? Even the folks at Electronic Arts are happy that the price has been dropped. EA CEO John Riccitiello said that it was a good move and that they expected sales to increase. Ubisoft said something similar. I guess investors aren’t seeing it the same way.
Perhaps we’ll have to give Sony some time to ramp up. I think that with these recent PS3 developments and the new PSPgo on the horizon, Sony will have a decent year. Decent enough for investors? That remains to be seen.
[via GI.biz]
