Sony Pulls Plug On Concord: Multiplayer Shooter Game Goes Offline Soon After Launch
Portfolio Pulse from Lekha Gupta
Sony Group Corporation (NYSE:SONY) is experiencing a decline in share price after announcing the discontinuation of its multiplayer shooter game, Concord, shortly after its launch. The game will go offline on September 6, 2024, with sales stopping immediately and full refunds offered to purchasers. This decision follows a recent price increase for the PlayStation 5 in Japan and the launch of a new Accessories app for Windows. Investors can access Sony stock through ETFs like BlackRock Large Cap Core ETF (NASDAQ:BLCR) and Calamos ETF Trust Calamos Antetokounmpo Global Sustainable Equities ETF (NYSE:SROI).
September 04, 2024 | 2:39 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Sony's recent actions, including the discontinuation of Concord and PS5 price hike, may affect the performance of BlackRock Large Cap Core ETF, which includes Sony.
As Sony is a component of the BlackRock Large Cap Core ETF, its recent negative news could impact the ETF's performance, though the effect may be diluted by other holdings.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Sony's decision to discontinue the Concord game shortly after launch has led to a decline in its share price. The company is offering refunds to players, which may impact short-term revenues.
The discontinuation of Concord shortly after its launch suggests a misstep in product strategy, leading to a negative market reaction. Offering refunds will likely impact short-term revenues, contributing to the share price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Sony's recent developments, including the Concord game discontinuation, could influence the Calamos ETF Trust Calamos Antetokounmpo Global Sustainable Equities ETF, which holds Sony.
The Calamos ETF includes Sony, and the recent negative news about Sony could impact the ETF's performance, although the effect may be moderated by other assets in the fund.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50