Shares in GAME Group have more than halved since the leading UK games retailer issued a revenue warning last Wednesday.

Last week, the company reported a significant drop in sales for the 41 week period to November 12, 2011, and lowered its annual revenue forecast to minus seven percent year-over-year.
Its shares dropped by 35 percent that day and have fallen every day since - GAME's stock has dived 57.7 percent in five days of trading since the announcement, Edge reports.

Its share price stood at 6.66p at the close of trading last night, compared to 70.5p at the beginning of 2011 and 296.75p in May 2008.

"The performance of the market is below our expectations," GAME CEO Ian Shepherd said last week. "Major software titles are launching in line with first week expectations, but are then seeing a quicker tail-off than historically experienced. Customer footfall and basket sizes are down reflecting wider consumer uncertainty."

Posted: Nov 23, 2011 1:27 pm

Source: http://www.computerandvideogames.com/327092/game-group-shares-dive-almost-60/