Sunday, May 18, 2008

Bears hunt video game stocks

Bears hunt video game stocks

"Apparently, 68% growth just isn't good enough, so investors sold shares of the video game software makers Friday.

Research firm NPD triggered Friday's sell-off with a report that said the U.S. video game sector grew 47% in April, compared with the same month last year, to $1.23 billion, with software up 68% and hardware up 26%.

The data sent shares of Electronic Arts down 3.8%, Activision down 1.6%, Take-Two Interactive Software down 1% and Midway down 1.4%. THQ bucked the trend, with its shares rising 1%. The overall market finished little changed."