By Lu Wang Dec. 2 (Bloomberg) — GameStop Corp. fell the most in the Standard & Poor’s 500 Index on concern the world’s largest video- game retailer may be forced to lower prices after Wal-Mart Stores Inc. offered discounts on its top video games. GameStop fell 7.7 percent to $22.01 as of 9:58 a.m. in New York Stock Exchange composite trading. Walmart is slashing prices on the top 25 video games by as much as 20 percent through Dec. 24 and GameStop may need to match those reductions to stay competitive, Tony Wible, an analyst with Janney Montgomery Scott LLC, wrote in a note to clients today. “Many of the GME stores overlap in close proximity to a WMT store as GME has historically sought to benefit from WMT foot traffic,” Wible said, referring to the two companies’ stock tickers.
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GameStop Falls Most in S&P 500 After Walmart Slashes Prices on Video Games
