STOCKS AND BOMBS
'Twas the night before Christmas and all through the stock market, not a space creature was selling, not even Atari. Actually, it was December 8th when Warner Communications Inc., parent corporation for Atari video games, admitted that their year hadn't been that hot, that-in fact-stockholders could probably expect their shares to be about a dollar down from expectations, from $5.25 predicted to maybe $4.25 or less.
STOCKS AND BOMBS
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P. GREGORY SPRINGER
'Twas the night before Christmas and all through the stock market, not a space creature was selling, not even Atari.
Actually, it was December 8th when Warner Communications Inc., parent corporation for Atari video games, admitted that their year hadn't been that hot, that-in fact-stockholders could probably expect their shares to be about a dollar down from expectations, from $5.25 predicted to maybe $4.25 or less. Atari stock quickly plunged a high dive-down over 16 points on the New York Stock Exchange following the announcement. In a few days, the stock was down even more, some 23 points.
Gulp. Unlike video gamers, when players of the stock market run a losing streak, they have bigger problems than sore trigger fingers and a shortage of quarters. We're talking millions of dollars at stake.
Atari shuffled its feet and admitted it had a slow year, and other stocks followed suit. Mattel, the leading competitor, claimed a loss for the fourth quarter of 1982, and began to offer a $50 rebate for purchase of its Intellivision game machine.