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

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.

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Brenna Hillier avatar

Brenna Hillier

Contributor

Based in Australia and having come from a lengthy career in the Aussie games media, Brenna worked as VG247's remote Deputy Editor for several years, covering news and events from the other side of the planet to the rest of the team. After leaving VG247, Brenna retired from games media and crossed over to development, working as a writer on several video games.

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