Video Games Crisis?
Yes... Varchild2008 has to sound the alarm in case you didn't get the message.
There is most definitely a Video Games Crisis going on....
Despite Halo: Reach and other great video games arriving in September, Video Games + Hardware sales combined for an 8% year over year drop in sales.... That's after the fact that the entire 2009 sales year was already an abyssmal mess... There really isn't any month at all this 2010 that had to deal with any "Tough Comparisons" as analyst speak goes. And yet consistently the Video Games sector is falling off a cliff..
And it doesn't matter if it is Casual Games or Hard Core Games.... Online Games...Or Mobile Or Console or PC Games..... It is a complete disaster all around....
And quite frankly making this NERD a little bit depressed here folks.
I know the economy is extremely bad and only getting worse but Video Gaming is normally recession proof.
Since Analysts aren't expecting a recovery in the economy next year.... growth right now is expected to be 2% in 2011 at best... for the whole year...2% GDP growth..... That is quite astonishing when you consider that Social Security makes up about .5% of that 2% (give or take).
There isn't going to be a COLA increase in Social Security so they are saying that lops off 1/4% GDP growth 2011.
So where exactly is the Light at the end of the tunnel here? I don't see one.
Which means stocks like (CYOU), (GA), (GAME), Netease, The9 Limited, and so on.
But how horrible is it??? All of our *FUN* is getting outsourced!