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GameStop shares drop 6 percent over Xbox rumors

Rumors that the next Xbox could lock out used games prove costly for GME

This morning, Edge Online released a report that Microsoft's next Xbox console would use activation codes to lock physical discs to a single console. Edge's report also states that the next Xbox will require an online connection in order to function. This move would effectively kill used game sales and rentals at businesses like GameStop, Gamefly, and Redbox.

In response to the news, GameStop is trading at $25.04 at moment, down 6.56 percent from yesterday's close at $26.81. On the bright side, the stock has recovered from a low of $23.83 today.

Edge Online's report remains unconfirmed by Microsoft, who is expected to announce its next console at E3 2013.

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Mike Williams avatar
Mike Williams: M.H. Williams is new to the journalism game, but he's been a gamer since the NES first graced American shores. Third-person action-adventure games are his personal poison: Uncharted, Infamous, and Assassin's Creed just to name a few. If you see him around a convention, he's not hard to spot: Black guy, glasses, and a tie.
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