Some of the worst performing stocks this year are in video game makers, even the ones that had huge profits not long ago like Nintendo are losing it. The only company that was doing OK is activision blizzard, and even they are down 7% so far this year. To make money in the stock market you need to go against the grain, see what others don't see. You don't buy a company because it is good, but because it is undervalued by the market. With that said there are many companies at or near 52 year lows right now.
Nintendo is at 112 right now, used to be at 600 on the high in 08.
Take two is at 10, used to be at 27.
EA is at 12.44, used to be over 60
Sony is at 13.18, down 75% from 2008. They have a lot of other problems though.
Activision Blizzard is at 11.44, it is down from 2008 but has flattened since then.
Gamestop is down to 17.83, down from over 60.
Hell even zynga is hitting new 52 weeks lows.
All of these stocks except activision are really close to 52 week lows, and right before new generations start seems to be the time to buy stocks.
Personally Take Two and Nintendo look good to me. I think it would be a good idea to wait until the end of the summer. Perhaps when August NPD comes out and people think the gaming market has died and you can pick up these companies at dirt cheap prices. What do you guys think? You see any diamonds in the rough?
currently playing: Skyward Sword, Mario Sunshine, Xenoblade Chronicles X
