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After PS4 announcement, Sony stocks go down while Nintendo's go up

by rawmeatcowboy
21 February 2013
GN Version 4.0
Coming from MarketWatch...

The two stocks traded in opposite directions on Thursday. Sony’s SNE -3.04% U.S.-listed shares were down 2.7% to $14.08 by midday, with Nintendo’s NTDOY U.S. shares up 2% to $11.79. Earlier trades on the Tokyo market followed the same pattern, with Sony JP:6758 -1.77% slipping about 1.8% by the close of that session, and Nintendo JP:7974 +1.26% gaining about 1.3%.

What's the reason for the Sony drop? Investors always do this when they don't get a release date and price point for a new piece of hardware. I'd say that's what's going on here. Thanks to Tayllor for the heads up!

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