It seems that Sony's newly announced service, PlayStation Now, has cut into GameStop's success.
Following the announcement last week, GameStop's shares went down significantly. It seems investors realize that PlayStation Now will have most of Sony's catalogue, making it less crucial to buy the game at a store.
But GameStop isn't the only company that may take a hit. Rental places like GameFly and RedBox may also be affected. Yessiree, this PlayStation Now business is looking to be a game-changer.
This announcement comes alongside GameStop's holiday sales, which posted a 9.3% increase in sales. You can check out more stories on PlayStation Now, including all its details, here. Keep it locked to CGM as the release of PlayStation Now draws ever closer.