Metal Gear Solid 4 delay liquefies Konami stock
The company's stock price had its largest one-day drop in four years after the second postponement of the PS3 exclusive.
Konami put out a statement yesterday explaining that game hero Solid Snake's latest outing, Metal Gear Solid 4: Guns of the Patriots, would be delayed to the second quarter of 2008. It was the second major delay for the game, which had originally been scheduled for this holiday season.
Meant to be released in "winter," the game was set back again so that "further improvements" could be made, the company said. Gamers were dismayed--and so, it seems, were shareholders.
Konami shares plummeted 6.8 percent to ¥3,160 (about $27.50) at the mid-morning break on the Tokyo stock exchange, reports Bloomberg. It was the largest drop for the company's stock since December 8, 2003.
UFJ analyst Hirotoshi Murakami commented, "Investors were active sellers today because of disappointment over the delay. It may be the company's strategy to boost earnings next fiscal year with the game software."
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