Wed, Feb 16, 2011 | 22:59 GMT
EA stocks rise in the wake of Riccitiello’s Goldman Sachs presentation
After CEO John Riccitiello’s presentation at the Goldman Sachs Technology and Internet Conference yesterday, EA’s stock rose sharply.
Bloomberg reports that shares in Electronic Arts, Inc rose 2.9 percent to $19.07 as of 3:00 PM EST.
Earlier in the day, the stock has seen a massive 9 percent hike. This put EA’s stock at its highest value since May 2010.
Meanwhile, options trading also saw an increase, jumping 23 percent and quadrupling the weekly average to top at a point not seen since September 2009.
During his presentation, Riccitiello said the publisher’s current portfolio of intellectual property is the strongest in the industry, emphasised the value behind a multi-platform digital publishing strategy, and drew attention to EA’s efforts towards becoming a “platform” in and of itself.
The CEO also openly confessed the company had “dropped the ball” in earlier years, a disarmingly charming admission.