Tough Day for Love Fist and Friends
Take-Two Interactive (TTWO) hit a new 52-week today and THQ Inc (THQI) and Electronic Arts (EA) are dangerously close to their 12 month lows. The Hater-Aid is strong on the game stocks, when will it end?
Electronic Arts (EA) share are trading at $11.94 and its shares are 2.26% from its 52-week low. THQ (THQI) is trading at 54 cents, its shares are less than a dime from its 12 month low. THQ needs to do something soon if it it plans to remain trading on the Nasdaq.
The future of the gaming industry is digital downloads however the overall depressing game sale numbers continue to push these stocks down. U.S. retail sales of video-game hardware, software and accessories fell 28% in May to $517 million. It was the sixth straight month of decline.
Its difficult to tell if these stocks have hit bottom however if the industry can bounce back so can these stocks.
LOVE FIST AND FRIENDS
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