gamestop director leonard riggio
GameStop stock drop blamed on Walmart’s discounted game prices
The Dallas Morning News reports that GameStop’s stock dropped substantially Wednesday (December 2, 2009) after Walmart announced decent discounts on some bestselling games and $50 gift cards for Nintendo Wii buyers.
GameStop stock dropped 8.3 percent after to close at $21.87 after Walmart revealed discounts on games including Madden 2010 and Left 4 Dead 2, knocking their price down to $50. The DMN quotes Arvind Bhatia an analyst at Dallas’ Sterne Agee & Leach, saying GameStop is probably not worried.
