Surprising Results for So Much Hype
You may be excited about yesterday’s announcement of the Playstation 4, but in business, sometimes the only reactions that matter are the ones investors make. Based on today’s Wall Street action, it does not appear those investors are fully satisfied with Sony.
Case in point: The trading day today ended with Sony stock falling 2.7 percent, plus a temporary tick down an additional tenth of a percent in extended trading after hours. The stock now sits at $14.08 a share, off yesterday’s close of $14.47.
Still, the PS4 announcement did some damage to Microsoft’s stock. MSFT fell more than one and a third percent to $27.49 a share, but has ticked up more than a quarter of a percentage point after hours to $27.57.
Ironically, the big winner in the PS4 announcement aftermath may be Nintendo. They were the only one of the big three console manufacturers to see their stock up on the trading day. NTDOY closed up almost two percent to $11.77 a share.
For reference, all major US indices were down today; with the NASDAQ taking it on the chin the most with a more than one percent decline.