Amazon moves into used games
My last post commented on the extension of the Kindle into the iPhone through a new book reading app. Not that I want to keep harping on Amazon, but it does seem appropriate to mention
According to the Wall Street Journal, GameStop stock “plunged 14% Thursday after the news.” The drop was more than half of its 26% rise this year, bouyed by the growing sense that video games were the new entertainment medium that was
recession proof. Evidently Amazon feels the same way, and it recognizes that there is enough money in used games to take a significant position.
All the more troubling for Gamestop is the fact that the stock drop was based on a single announcement from Amazon.
