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GameStop Shares Stung by Amazon Offer

Rob Crossley's picture

By Rob Crossley

March 6, 2009

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Gamestop shares fell over 13 percent on Thursday following Amazon’s announcement that it will enter the games trade market.

The North American retail giant saw trading end the day prior at $27.3, yet on Thursday its shares fell as low as $22.42 while rival retail outlet Amazon announced it was going to compete in the pre-owned market.

Some analysts have commentated that the market has overreacted, and that Amazon’s online trade-in scheme is markedly different to GameStop’s swap-in-store system. GameStop CEO Dan DeMatteo told Edge that the real difference between the two systems is that one has “zero” chance of working.

ArronC07's picture
On March 7th ArronC07 said:

The simple fact is that brand new games are too expensive for most people, lower the price of a brand new game and watch the pre-owned market disappear. Also the pre-owned market actually enables groups of people alienated by the ridiculous price of new games on the high street to buy new games by part exchanging their old games for store credit.

Digital distribution is also something that's a long way off if 50gb games are going to be the norm in a year or two.

XXLGamer's picture
On March 7th XXLGamer said:

Hmm, sounds like a plan, only if Amazon can pull this off.

SaintJude's picture
On March 6th SaintJude said:

Good! Bring on digital distribution and cut these greedy middle-men out of the equation.