Sorry I haven’t been posting, but I had some problems with my domain-forwarding and they weren’t cleared up until last night. In the meantime, I’ve joined Minyanville.com as a contributor to their excellent site.
This is great news. I did some of my best work on TheStreet.com’s RealMoney, but I was always disappointed that so much of it was behind the subcription wall. Writing for Minyanville will allow my work to reach a much broader audience.
Now, on to the story:
NPD reported June 2009 video-game sales data yesterday and it isn’t pretty. Software sales were down 29%, while hardware fell a whopping 38%.
As expected, Sony (SNE) is the biggest loser. The PS3 is losing an awful lot of ground to the Nintendo (NTDOY.PK) and Microsoft (MSFT) Xbox 360, both of which carry much lower prices. The PS3 is also doing rather poorly relative to its PS3. I go more in-depth on Sony in this piece for Minyanville.
BTW, I’m now long Take-Two Interactive (TTWO). I started a position on Tuesday after the company announced it was delaying Bioshock 2 until next year. Read more about my rationale here. It may soon be my biggest position – I’m thinking about adding a synthetic long (short put options and long call options) position to my common stock.
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{ 2 comments… read them below or add one }
would like to see better Activision coverage. The company has $3+ in cash, so the company is selling for $8s or 10x to 12x estimates, and growing. whats the deal? good?
I own the stock but I'm hesitant to buy more. Modern Warfare 2 is the biggest game release of this generation but I'm in no rush to buy. More value in THQI and TTWO in my opinion.