EA’s day of reckoning is here after ‘Star Wars’ game uproar, $3 billion in stock value wiped out
[Source: cnbc] Electronic Arts' shareholders are running for the hills this month and for good reason. The company's profitable business model is now at risk after angry gamers revolted over its aggressive in-game moneymaking strategy in "Star Wars Battlefront II." EA's stock is down 8.5 percent month to date through Tuesday compared with the S&P 500's 2 percent gain, wiping out $3.1 billion of shareholder value. Its competitors Take-Two and Activision Blizzard shares are up 5 percent and 0.7 percent respectively during the same time period. After EA gave a December quarter sales forecast slightly below Wall Street estimates on Oct. 31, some analysts suspected it was due to the "Stars Wars" title. The shares ...
No comments:
Post a Comment