GameStop shares drop 6% after Xbox 720 anti-used game report

Wednesday, 6 February 2013 22:24 GMT By Brenna Hillier

GameStop stock has taken a tumble following a report claiming the next-gen Xbox will tether games to individual consoles, effectively biting into the used game market. Shares prices had dropped a slow as $23.75 over the course of the day but as of close of business on the East Coast had recovered slightly to end up at $25.20. That’s a 6% drop, apparently. Used game sales accounted for 48% of the retailer’s gross profits in 2012, and it takes a smacking every time this rumour arises.

Thanks, CVG.