GameStop shares fall after next Xbox report
US games retailer GameStop’s shares are “trading sharply lower” following the publication of our story on the next Xbox.
Forbes reports that GameStop shares are down after we revealed that the next Xbox would block second-hand games. The move could damage GameStop’s business significantly, and it appears investors are taking note.
GameStop reported on November 15th that in the three months ended October 27th 2012, sales of used products accounted for 28% of its overall sales and more than 48% of gross profits.
The report adds that GameStop shares are trading down by 6.8% as a result of our story. You can read what we know about the next Xbox here.