Mock if old:
The video game world shook on Tuesday afternoon after Sony announced (along with a new Internet-based television service in the US) a streaming service called PlayStation Now at the Consumer Electronics Show. Video game retailer GameStop GME -8.37% shares sank immediately following the news, as gamers considered a future without physical CDs and visits to their local store.
As Forbes contributor Erik Kain explained today, PlayStation Now is a cloud-based project that brings original PlayStation, PS2, and PS3 games to the PS4 console and handheld PS Vita, as well as other Internet-connected devices like HDTVs, tablets, and smartphones.
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Meanwhile, analysts at Stifel Nicholas downgraded GameStop stock to “hold.” At Tuesday’s close, the shares had fallen 8.37%.
