GAME stock declines despite good news

via Games Industry


The GAME Group's share price has fallen steadily since the markets closed on Monday, despite positive news for the company in general.

Earlier in the week it released a trading update for sales across the Christmas period, which were up 76 per cent, and outlined strong growth for the third year in a row.

Additionally, the Competition Commission today officially cleared the completion of the deal originally announced last year that saw GameStation integrated into the business.

But the company's share price fell from 226.25 pence to 186.25 pence as of publication time, possibly prompted by the prospect of a more difficult time ahead for the industry as a whole.

The company announced that it still expects a good 2008, but that like for like growth is likely to be slightly smaller all the same.