Wed, Mar 20, 2013 | 09:06 GMT
EA stock drops 8.34% following Riccitiello resignation
EA’s NASDAQ stock plummeted almost 9% yesterday, following the resignation of former CEO John Riccitiello.
GI.biz reports that EA’s stock initially went up 2.6% after the Riccitiello’s departure, and after some re-assessment from traders, fell by 8.34% by close of trading, with shares dropping from 17.15 from 18.74.
It is EA’s biggest stock drop in 19 months. However, the company’s shares are still worth more than they were at the start of the year, when it opened at 14.5 a share.
Brenna has reported on quotes from an alleged EA insider who called Riccitiello “More obnoxious than impressive”, and suggested that his presence cost the company money each year he was present. The quotes are rather damning. Be sure to check them out by hitting the link above.
Meanwhile, Pat has offered his own take on the matter and suggests that Peter Moore will be next in line to claim the EA throne. Check out the facts, figures and evidence above.
What’s your take on the Riccitiello matter? Discuss below.