While video games are said to be recession-proof, video game publisher stocks are not immune to Wall Street turbulence, as witnessed by yesterday's market free fall.
As GameSpot reports, virtually all of the major game publishers took a hit in yesterday's sell-off after Congress failed to pass a bailout bill.
Wedbush-Morgan analyst Michael Pachter managed to find some humor in the situation, however, as reported by Cnet:
Wedbush Morgan analyst Michael Pachter, who tracks the video game market, said his industry will suffer like any other, though he did offer a suggestion for how to make lemonade from the financial lemons being lobbed from Washington.
"I think we need a game where instead of shooting (Nazis), we shoot Congress," he said. "This is embarrassing."
Comments
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
Count me among those lauding Congress. In a truly free society, you have to be free to fail as well as free to succeed. Sometimes that failure is gigantic.
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
I completely approve of Congress throwing the Bill out.
Why? No-one read the fine print. It would have given Bush unlimited powers for an infinite time period.
~You Could Be Mine, But You're Way Out Of Line..~
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
Congress is to be lauded for rejecting a terrible plan. Don't jump onto some Wall Street millionaire's viewpoint of blaming Congress for failing to bail out him and his ilk with OUR hard earned tax dollars. The correct plan will have the government helping people keep their houses, not ensuring a bunch of greedy fat cats don't lose a portion of their profit.
A completely free market is open to exploitation, as we see all the time in every multiplayer environment. The Gov are the GameDevs, who must make rules and enforce them in order to let everyone play fairly.
Hold Congress and the rest of the government responsible to create a GOOD plan and follow up with re-regulating the financial markets so we don't face this particular fiasco again.
"Think Free or Die"
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
I'd settle for a good old fashion storm on congress with torches and pitchforks. I've said it once, I've said it a thousand times, Washington D.C. Needs a political enema.
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
Agreed with this too... And they need it badly.
How to set Xbox 360 Parental Controls
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
I think we should do like Lewis Black suggested, march down to D.C. and electroshock everbody. Just to get them back on track.
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
Games where you shoot members of Congress? Surely they are 10 a penny on Flash game sites? I'm sure Newgrounds has a few.
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
"I think we need a game where instead of shooting (Nazis), we shoot Congress," he said. "This is embarrassing."
I can only imagine what will happen if the mainstream media gets their hands on this quote.
/popcorn
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I'm not under the affluence of incohol as some thinkle peep I am. I'm not half as thunk as you might drink. I fool so feelish I don't know who is me, and the drunker I stand here, the longer I get.
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I'm not under the affluence of incohol as some thinkle peep I am. I'm not half as thunk as you might drink. I fool so feelish I don't know who is me, and the drunker I stand here, the longer I get.
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
I would So buy that.
United we Stand, Divided we fall.
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
The mainstream media will just whine about video game bannings, but nothing serious will come out of it.
--- Official Protector of Videoland!
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
Agreed... Can I have some popcorn? haha...
T2's stock is back up to 16.1 today, while EA's stock is still going down and is at 35.5... It seems EA is taking a decent hit, a week ago they were at 40, while T2 was at 16.3... So in ratio EA has dropped 5 times as much as T2. It is really too bad, I wanted to see how the DRM stuff was hurting them, but with the market screwed up like this, we will never know.
What are the laws about making games about killing elected officals... I believe you could actaully get in trouble over it.
How to set Xbox 360 Parental Controls
Re: GameCo Stocks Suffer in Wake of Congressional Bailout
Can I have some popcorn?
*passes the bucket DeepThorn's way*
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I'm not under the affluence of incohol as some thinkle peep I am. I'm not half as thunk as you might drink. I fool so feelish I don't know who is me, and the drunker I stand here, the longer I get.
---
I'm not under the affluence of incohol as some thinkle peep I am. I'm not half as thunk as you might drink. I fool so feelish I don't know who is me, and the drunker I stand here, the longer I get.