Sega Sammy Stock Up More than 7.5% on Sonic CD Demand

Sega Sammy Stock Up More than 7.5% on Sonic CD Demand

by December 15, 2011

Despite Anarchy Reigns Delay, a “Sonic Boom” in Stocks

Christian Whitehead may not have only won over fans with the RSDK backed re-release of Sonic CD; after today, he may also have won over the group that ultimately matters: Investors.

Shareholders shrugged off word of Anarchy Reigns getting another delay to July.  Instead, they likely looked at the incredible demand and praise for the Sonic CD that’s coming to a head across the Internet today.  At least, that’s the only thing we can think of that would contribute to a 7.57% stock spike, lifting SGAMY well over the $5 mark to $5.26 a share on the pink sheets.  The share price was even higher at points during the day–nearly touching a 9 percent increase–before cooling off a tad.

To be fair, the stock was down a bit over a percent yesterday, but that was before the mobile ports were released, and on iOS at least, they are taking off.  Volume within the stock was higher than usual as well, with more than 45,000 shares changing hands today.

We will see in the coming days whether this momentum can hold, on both the business and reaction front.