Sony Shares Bounce Back After PSN Press Conference

May 4, 2011Written by Kishen Patel

To call the recent PlayStation Network fiasco a blunder is the understatement of the year. Undoubtedly, this disaster will be regarded as one of the worse debacles in gaming history but, unfortunately, will not be the last of this kind. Even though the best Sony and the other competing platforms can do is attempt to prevent, Sony is beginning to rise again economically at least.

Amid the ongoing network downtime, Sony held a press conference for members of the media to gain insights on what really happened in regards to the external intrusion and where the PSN was to be headed moving forward. On top of a healthy heaping of good news, Sony’s stock market share values increased after a significant drop in value. The 2.5 percent increase brought the stock market share values up to 2,316 Yen. As soon as the PlayStation Network comes back up, the values are expected to rise even more.

Unfortunately for the Japanese corporation, analysts are predicting that this horrific event will have placed a burden of $615 million. Hopefully, with help from the incentives that PSN users will be getting when the infrastructure goes live, Sony will see increases in their market value and eventually redeem not only the finances lost but also the consumer’s trust that was compromised as a result of this issue.