Sony shares plummeted by some 8.4% on Thursday, their sharpest drop in almost two years, following publishing the firm's latest quarterly financial results. The proclamation that PS5 has reached its peak and the prediction that it expects growth to decline gradually from here seems to have spooked some shareholders.
Bloomberg marked the sharp drop off, noting that the company closed the day's business down 6.5%. Sony had to decrease its console sale forecast, slashing its prediction by four million units to an expected 21 million by the end of the financial year. It's a stark reminder that no entity is truly safe from the effects of the currently volatile market. For example, today, Microsoft confirmed it would bring four previously exclusive games to PS5 but refused to say which ones. These are strange and unprecedented times, indeed.