Stock Market: GameStop down, Sony up following Xbox One event

Reactions to Microsoft’s Xbox One reveal have come in across the stock market, with GameStop and Sony seeing significant swings – though not in the same direction.

Games Industry reports GameStop saw shares fall by 5 per cent in response to the announcement, likely driven by the uncertainty tied to the hardware’s potential restricting of used games and what that would mean to the retail chain.

"GameStop does not comment on speculation or rumors,” GameStop president Tony Bartell said. What I can share is that we are looking forward to the upcoming release of the Xbox One. We’re excited about the immersive entertainment experience the new system has to offer.”

In the meantime, GameStop is working closely with Microsoft to ensure there is an opportunity for customers to take advantage of our popular buy-sell-trade model and provide a seamless transition for consumers to enjoy the next generation of console gaming.”

Other relevant players were affected by the unveiling as well. Sony saw a stock rise of 9 per cent, while Nintendo shares were up nearly 3 per cent.

Microsoft stock meanwhile hardly budged, dropping less than 1 per cent after the conclusion of the event.