Wed, Mar 16, 2011 | 08:22 GMT
THQ’s 26% drop in stock value blamed on Homefront scores
Stock in THQ has fallen approximately 26 percent to $4.40 per share as of the close of the Nasdaq this evening.
The trading market saw 6.9 million shares of THQ stock exchanged which is more than four times the daily average.
It was reported earlier today that stock in THQ had dropped 12 percent to $5.23 (71 cents per share) following the release of Homefront reviews, but as the day progressed, the stock price continued to fall.
The shift in stock prices was reportedly due to this morning’s Metacritic rating of 75, based on 16 reviews. Currently, the score for Xbox 360 is 72, and PS3 sits at 76. A score of 80 is considered the minimum a shooter to be commercially viable but industry business types.
However, it must be noted that not all review scores were in by the time shares took a tumble, meaning the score could get higher, or for that matter lower once everyone reports in.
The different reviews of the game are also all over the place, as you can see via our reviews round-up, which is by no means comprehensive in and of itself. According to the LA Times, reviews are ranging anywhere from 50 to 93, with nine of the 16 reviews at 80 or above. The general consensus though, is that the multiplayer portion is rather well done.
Company CEO Brian Farrell said he is not concerned with review scores of the game, as it “seems to resonate with consumers.”
“It’s a mass market title,” he said. “Let’s see what players think.”
Homefront is one of the most expensive projects released by THQ, and received the largest number of pre-orders of any title in the firm’s history.
Last week, THQ CFO Paul Pucino said during an investor briefing that “you have to sell somewhere in the area of 2 million copies of a game like Homefront to break even.”
Thanks for the update: Gamasutra.