Gamestop’s share price dropped by a whopping 9% after Sony announced its PlayStation Now streaming service.
Gamestop’s share price is now on $43.98. This is down by 9% the day before Sony revealed PlayStation Now at CES 2014.
PlayStation Now will allow gamers to stream/play full PS3 titles on their PS4, PS Vita and even smartphones and tablets.
It’s hard to telll how this will affect Gamestop’s profits in the long run, but the increase in digital/streaming services will cut into the retailer’s marketshare.
It’s possible investors of Gamestop are overreacting, but it’s still interesting the share price dropped so low because of this one announcement.
