While video games are said to be recession-proof, video game publisher stocks are not immune to Wall Street turbulence, as witnessed by yesterday’s market free fall.
As GameSpot reports, virtually all of the major game publishers took a hit in yesterday’s sell-off after Congress failed to pass a bailout bill.
Wedbush-Morgan analyst Michael Pachter managed to find some humor in the situation, however, as reported by Cnet:
Wedbush Morgan analyst Michael Pachter, who tracks the video game market, said his industry will suffer like any other, though he did offer a suggestion for how to make lemonade from the financial lemons being lobbed from Washington.
"I think we need a game where instead of shooting (Nazis), we shoot Congress," he said. "This is embarrassing."