On Friday (2/9/07) I received a copy of Electronic Gaming Monthly. One of the main features of the issue was an interview with Sony Computer Entertainment America CEO Jack Tretton discussing the success of the PlayStation 3. According to Mr. Tretton, Sony is quite happy with the early sales figures of the PlayStation 3. He claims the PlayStation 3 was the most successful game system launch ever.
Now, I’m not a console kind of guy, but I have been known to dabble in the stock market. These kind of mind-boggling statements from the CEO of a major corporation are a good indicator of a company (and more importantly a stock price) that is in trouble. The PlayStation 3 has not been well received in the trade press or by the general consumer. The Wii has been flying off the shelves, while the PS3 has been fairly easy to find after the first of the year. Mr. Tretton flatly denies this fact and made a general challenge that he would pay a $1200 bounty if anyone could show him pictures of PS3s not selling in retail stores.
Not one to shy away from a challenge, the guys that create the Penny Arcade took him up on the offer. My take — sell your Sony stock and invest in PS3 sightings.