GameStop shares tumble over Xbox rumors
Specialty retailer sees share value dive more than 6 percent after a report suggested Xbox 720 could block used games.
GameStop shares tumbled today more than 6 percent after sources told Edge the next Xbox could block used games. According to the report, titles for the rumored platform will ship with activation codes and "have no value beyond the initial user."
This would be potentially problematic for GameStop, which generates a significant portion of its revenue from the sale of secondhand games and goods. The analyst consensus is that future platforms--from both Microsoft and Sony--will not block used games.
At press time, GameStop is trading down 6.75 percent to $25 per share.
Edge's report is, of course, unconfirmed. Microsoft has not commented on the speculation or even acknowledged any new platform beyond the Xbox 360. That being the case, rumors are swirling that the company will announce its new console during an Apple-style media presentation in late March, perhaps in conjunction with the 2013 Game Developers Conference.
It appears Sony will beat Microsoft to announce its next-generation platform, as the PlayStation maker is holding a briefing in New York City on February 20 where the company is believed to announce the PlayStation 4.
God Of War PS4 Tips And Guide: 6 Things To Know Before You Play Top New Game Releases This Week on Switch, PS4, And PC -- April 22-28 Avengers: Infinity War -- 10 Things We Want From The New Movie Avengers: Infinity War's Infinity Stones Explained New Dragon Ball FighterZ DLC Character Revealed - GS News Update Venom - Official Trailer Worlds Adrift May Be Perfect For Disappointed Sea Of Thieves Fans Best PC Games: Free Friday The 13th Game Is Actually Good We Quiz The Super Troopers On Crazy Canadian Laws | Super Troopers 2 PUBG Is Getting Some Big Weapon Balance Changes On PC - GS News Update GameSpot Universe News Update: Avengers: Infinity War Takes Place Only Half On Earth Crazy Rich Asians - Official Trailer