Is It Game Over for These Fan-Favorite Nasdaq Stocks?
The stock market remained volatile on Tuesday, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had to deal with some dips in the road early on before recovering. As of 12:30 p.m. EDT today, the Nasdaq was up about 0.2%, although it still lagged behind other major market benchmarks.
The biggest companies in the Nasdaq managed to post modest gains that helped the overall index. But more surprising was the damage across an entire industry that holds a prominent place among Nasdaq stocks. Video game makers have been big winners over the years, but most of their stocks saw big declines today. Below, we'll share the details and look at what's behind the downward move.
The biggest decline in the industry came from Take-Two Interactive Software (NASDAQ: TTWO), which released its fiscal first-quarter financial results late Monday. The 9% drop in the stock stemmed from slower growth than expected and concerns about delays in releasing the next installments of some highly anticipated core game titles.
Source Fool.com
