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About Rainier

PC gamer, WorthPlaying EIC, globe-trotting couch potato, patriot, '80s headbanger, movie watcher, music lover, foodie and man in black -- squirrel!

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Analysts Expect Midway Shares To Plummet

by Rainier on Sept. 7, 2005 @ 12:40 a.m. PDT

While Viacom's Sumner Redstone continues to accumulate shares of Midway Games, a lot of investors have been betting that he won't keep it up and that Midway's high-flying price will come crashing down. The stock has risen from less than $3 a share two years ago to $15 this month, while Midway is losing money, and its shares on a price-to-sales basis are selling for 50% to 10 times as much as other vidgame publishers, some of whom are making plenty of money. Read more over at Variety...
While Viacom's Sumner Redstone continues to accumulate shares of Midway Games, a lot of investors have been betting that he won't keep it up and that Midway's high-flying price will come crashing down. The stock has risen from less than $3 a share two years ago to $15 this month, while Midway is losing money, and its shares on a price-to-sales basis are selling for 50% to 10 times as much as other vidgame publishers, some of whom are making plenty of money. Read more over at Variety...
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