EA Responds to Sudden Stock Price Plunge
Following the release of Medal of Honor reviews across the Internet yesterday, the price of Electronic Arts stock saw a pretty significant dip. The reviews generally werent as high as the hype may have suggested they would be, and that response led to a $1.05 drop (6%) in share prices yesterday to $16.61. Today, its dropped a bit even further to $16.54 as of 11:36AM EDT.
Thats certainly not the sort of response EA could have hoped to have coincide with the release of their newly relaunched shooter franchise. But, as youd expect, the mega-publisher has released a statement trying to spin the situation in a positive fashion.
"The game had the highest pre-orders in the 11-year history of the Medal of Honor franchise," the statement (via the LA Times) read in part, perhaps trying to suggest that sales figures will be much better than the reviews would lead you to believe. Unfortunately, we cant count on the NPD to provide us with any sales figures next month now that its doing away with hardware and software numbers from its monthly reports.
The statement continued, "This is an essentially big achievement considering Medal of Honor has been dormant for several years. This is the first year in rebooting the franchise. Medal of Honor is part of a larger EA strategy to take share in the shooter category. This is a marathon not a sprint -- todays Medal of Honor launch represents a step forward in that race."
Did you pick up Medal of Honor yesterday? If not, were you dissuaded by the tone of many of the reviews that were released?