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Gamestop shares drop after PlayStation Now announcement

by on January 8, 2014
 

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Sony’s recent PlayStation Now announcement at CES, which promises the ability to play PS3 and PS2 games on the PS4 via streaming service, has caused Gamestop’s stock to take a hit.

Gamestop’s stock is currently trading at $43.98, which is down almost 9% since the announcement.

Certainly cloud gaming has never been on Gamestop’s list of awesome features for any consoles but this one will certainly hurt if it comes off well, as we all know the retail store is all about getting you in there for physical copies (though they do sell digital codes as well).

Gamers have been expecting Sony to announce a streaming gaming service ever since the company acquired Gaikai in 2012, though we still don’t know how many games will be available or if there will be a subscription charge. That’s not to say it’s a guaranteed success, as we’ve seen OnLive fail miserably and announce bankruptcy in 2012, and quite frankly, we know Sony won’t exactly be going bankrupt, even if PS Now fails, but like any streaming service, it’ll also come down to the quality of games and how well they play based off of people’s internet connections.

For Gamestop though, at least the PS4 is unable to play PS3 discs, so for those who still want physical copies of those games, they’ll still need to head out to a retail store and continue playing them on the PS3 itself.

No official comment from Gamestop at this time however, regarding their latest stock drop.

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