GAME shares hit 8 year low

Having effectively issued a profit warning yesterday morning, shares in Europe’s largest video games retailer GAME have dropped to their lowest point in over eight years.

At the end of trading yesterday the chain’s shares closed at 38.25p. Its current market cap stands at 131.64m.

You have to go all the way back to March 2003 for the last time its shares were worth less – 37.25p. This was the era in which Xbox struggled to close the gap on PS2 and Nintendo had evolved its handheld platform for the first time with the Game Boy Advance.

In the interim GAME’s share value reached a high of 296.75p in May 2008.

By contrast, US retailer GameStop is seeing its shares slowly recover.

Having hit an all-time high of 62.3p in December 2007 the company’s stock fell to just 17.98 by November 2008 and then slumped again to 17.2p in February 2010.

However, since then it has been in recovery and closed yesterday with a value of 26.12p. This gives it a market cap of 3.69bn.