GME is up 10% over the last few days. The vg industry is starting to recover and catch a bid and what do you know another anti used game rumor. A couple weeks ago it was another rumor of GME closing 500 stores.
GME should start investigating these rumors because they always come out after GME has had a good run. With the high percent of ppl short I would not be surprised if bloggers were being paid off to write these articles. There is always an unnamed source providing these details and than MSFT or SNE saying we don't comment on rumor. Followed by an analysis saying how asinine the rumor is.
GME should spend a million or two suing for libel.
I'm sick of this as well. Shorts are about as evil as their troll liberal cousins.
I'm throwing the BS flag on this bogus story. MSFT would not do something this radical. Imagine the backlash from consumers. I have not bought a new video game in at least four years and I don't plan on starting any time soon. There are a lot of people out there like me as well I/we can't afford new games. The mandatory internet connection is a load also. I know that a lot of us have wireless in our homes, but not everyone does. These people would be left out as well. Consider foreign countries where internet is not as prevalent. MSFT needs them as well. I have always loved XBox; however, I would rather buy a PS3 or 4 if this turns out to be true.
Once the truth comes out GME's price will get back on track; however the trolls need to be stopped.
To sum up, you are saying if the stock shoots up 15% on not only no news, but actually negative news, including a 7% rise in one day, that doesn't sound sound like manipulation to you. But when the stock gives back a portion of those gains on what could be a valid concern, you scream about manipulation. Hmmm, that seems a bit one sided.
No news? There were at least two upgrades one from S&P with a buy rating and $28 target. Other news TTWO knock out quarter. EA releases Dead Space 3. Ouya release date.
Usually stocks move on upgrades and downgrades from analysts.
Now there is a rumor based on "unnamed sources". This rumor has come out at least twice for next gen xbox and ps in the last two years. This isn't the first time this rumor has come out and nor is it the first time this rumor has come out for the next gen. The same rumor was circulating in 2004 for PS 3. The drop would be justified if it came from the horses mouth, not a blog.
Other celebrities have won lawsuits based on rumor libel suits and I think GME should explore this option.