Thank you to U.S.News! It's really about time somebody reported this information.
The game came out on the 13th (7days ago!) and although it was obvious to some of us more studied shareholders that ATVI was going to completely contradict the gloom on retail, NOBODY would report it! As a result, one of the strongest companies on the NASDAQ followed this irrational market straight down after about 4 days of resisting the trend.
"World of Warcraft" is basically the 'heroin' of the internet and many of it's 11 million monthly subscribers would steal 'lunch money' to keep playing. There was no chance that the retail slump would hurt that title (alone accounting for 42% of gross revenue). I was personally a bit bothered by such a lack of attention on the good companies that are still out there. ATVI is positioned to weather this econemy with flying colors.
Kirk Shinkle is a senior editor at U.S. News. He writes daily about ups and downs in equity markets, sectors and stocks. Formerly, he covered business and economics on both coasts for Investor's Business Daily.
Todd of AK @ Nov 20, 2008 15:39:30 PM
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