GamStop Shares Tumble On Xbox One Used Game Rumors
Unfortunately for GameStop, there may have been no reason for their shares to tumble.
GameStop's stock price concluded the week down a whopping 19%, apparently based on the market's reaction to the theory that Xbox One would charge a one-time fee to play used games.
This resulted in a report from the UK saying that GameStop's margins in the pre-owned industry would be significantly affected, as no doubt they would be. However, Microsoft soon issued a quick clarification:
"The ability to trade in and resell games is important to gamers and to Xbox. Xbox One is designed to support the trade in and resale of games. Reports about our policies for trade in and resale are inaccurate and incomplete. We will disclose more information in the near future."
GameStop stock dropped 11% on Friday, down $3.90/share to only $32.11. But was this really warranted? According to the latest report from Polygon, gamers will not have to pay a fee to reactivate a used game, but there will be "regular online spot checks to verify the authenticity of games being played." But wait, there's more to this-
"While an internet connection will be required for the console, the company is also experimenting with special exemption codes that could be given to select people in very particular, internet-free situations, like active-duty soldiers serving in war zones."
Wait, so unless the system is hooked up to the Internet, we won't be able to play a pre-owned game because it can't be "spot-checked?" To be perfectly honest, I'm not sure this is better. These mandates and rules and restrictions are just wearing.
5/24/2013 9:46:35 PM Ben Dutka