Another Sharp Sell-Off Following Wii U, Bayonetta 2
Whether it’s because of in effect losing Bayonetta, investors losing confidence in ASR Transformed and the upcoming Heritage re-releases, or just investors losing confidence in Sega’s strategy to focus on select IP, Sega Sammy stock has tanked in the past two days.
SGAMY shed another 16 cents, or 3.24 percent of value, on the pink sheets today, fresh off Thursday’s similar decline. The share price now stands at $4.78 a share, creeping somewhat closer toward a 52 week low. In contrast, SGAMY stock had touched $5.20 on Wednesday. A nearly eight percent drop has occurred since then.
We are still a long way from the end of the company’s second fiscal quarter, but this may be a sign of trouble ahead–making Sega’s releases during the Fall and Holiday season that much more crucial to the company’s health.
By the way, Nintendo stock closed up 43 cents Friday to $15.44 a share, a jump of nearly 3 percent.