Posted on January 4, 2013 AT 03:45am
GameStop’s share price dropped six percent yesterday in the wake of news breaking regarding Sony’s recently patented pre-owned game blocking technology.
The technology tags an individual game when it is played, and then could potentially restrict it to a single console or account–rendering it useless as a pre-owned game. This could mean bad news for video game retailers who rely heavily on the pre-owned games market.
GameStop’s shares dropped $1.57 to $24.09 following the news. Michael Pachter of Wedbush Securities tried to keep investors happy by stating that it would be unwise for Sony to implement such technology. “Sony would be materially hurt if its console blocked used games and competitor consoles from Microsoft and Nintendo did not,” he wrote in a note to investors. “We think the reaction is overblown.”
Would you end up skipping certain games if Sony implemented the tech, or would you still buy just as many? Let us know in the comments below.
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