GameStop’s stock price has dropped nearly 8 percent today following Xbox boss Phil Spencer revealing the Xbox Game Pass service. This is a program where Xbox One owners can pay $10 per month to have unlimited access to over 100 Xbox One and backward-compatible Xbox 360 games. Of course, these are all digital games that you download from Microsoft’s Xbox Game Store, and it’s likely that investors are seeing this as a major threat to GameStop.
Uh oh. This looks like shaky ground for the chain at this point. The Circle of Life indeed. Granted, I have no use for Gamestop and haven't stepped foot in one for years. What do you think?