Sony’s Stock Rises After E3 Conference
Just before Sony’s E3 press conference, Sony’s stock plummeted to below 1,000 yen ($12.79) for the first time since 1984. So how are things now that the conference is over?
On Monday, the price hovered around the $12.60-70 level, but as the market opened on Tuesday, the price rose to around $13.10. Today, the price rose further to the mid-$13 mark (currently $13.59). Of course, Sony is a huge company, so tons of other factors affect its stock, but it’s important to note that the company has made few non-PlayStation announcements this week.
Wonderbook, which many are predicting to be a success due to the partnership with J.K. Rowling, received a huge amount of coverage from financial sites and newspapers, and was likely a major contributing factor to the change in share price.
It would really have been interesting to see how the price would have changed if Sony had bought Gaikai, but sadly that rumor turned out to be bogus.