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"Sony shares plunge 15%"

Sony shares plunge 15%

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Sony is planning a multi-billion dollar revamp
Sony shares have plunged by 15% as investors punish the firm for surprisingly weak results.

Almost $8bn has been wiped of the value of the world's leading consumer electronics maker since it made the shock announcement last Thursday.

The sharp decline in Sony's share price sent the wider Japanese stock market down 1.2% to close at new 20-year lows on Monday.

Sony's shares closed at their weakest level in seven years after falling by the daily limit for the second consecutive day of trading.

Investors have not been comforted by Sony's decision to embark on a multi-billion dollar three-year revamp to address the decline.

The company, creator of the PlayStation and maker of last year's hit film Spider-Man, said it lost 111bn yen (£579m; $923m) in the first three months of 2003.

This was almost 20 times the loss for the same period last year.
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Raed it an weape Ninteh fanbouus!!!! Da PS2 maeks mo' moneh and Sony iz tacin ova du wuuuulrd!!!

roffle roffle!!! Wiv class gaems liek GTAVC, nuffin can stop Soneeeeeeeeeee!!!

Perhaps Sony will bring the price down a bit now.

Watery Salamander wrote:
> Why would Nintendo fanboys weep at the losses of Sony?

Because if SOny disappear, all the crap games made by THQ etc go onto the GC and push out sales of good games, making Nintendo go bankrupt and causing the WORLD TO END!

Although with tickets at that price you could also buy shares in the corresponding cinema, and watch that go bust too.

Heh, sounds like pitching tickets for a movie.

Buy now at just $73.08, and watch 'Nintendo Go Bust'!

VenomByte wrote:
> So assuming their dropping further is virtually impossible, that would
> make it an excellent time to buy shares in Nintendo then?

Well...you could buy now at $73.08 per share and watch the price shoot back up, or alternatively you could buy now at $73.08 and watch Nintendo go bust. The choice...is yours...

So assuming their dropping further is virtually impossible, that would make it an excellent time to buy shares in Nintendo then?

Nintendo's share price isn't so great either. They could take the graph of the price over the last 18 months and turn it into a Xtreme Ski Slope.

Worryingly, Nintendo's share price can't GET much lower than it already is. (Currently Nintendo shares are $73 compared to their high of $148). Ouch.

He's taking the piece out of Top Score.

Murrrr

Why would Nintendo fanboys weep at the losses of Sony?

So Sony's market value plunges, then "Whoo Sony!"

What's this guy taking?