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Sony Stock hits 32-Year Low

This is a discussion on Sony Stock hits 32-Year Low within the Sony forum, part of the Multiplatform Talk; Sony's stock hits 32-year low over $1.9 billion bond issuance | NDTV Gadgets Shares in Sony dived more than 10 ...

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    Sony Stock hits 32-Year Low

    Sony's stock hits 32-year low over $1.9 billion bond issuance | NDTV Gadgets

    Shares in Sony dived more than 10 percent to lows not seen since 1980 after the troubled Japanese electronics maker announced it would issue bonds worth 150 billion yen ($1.9 billion).

    Sony was down 10.91 percent at 775 yen in morning trade on the Tokyo Stock Exchange after falling to a low of 772 yen, down 11.26 percent from Wednesday.

    The firm said late Wednesday it would issue convertible bonds totalling 150 billion yen to raise funds for business investment and to repay debts, sparking fears of dilution of the value of each share.

    The price was less than five percent of the peak price of 16,950 yen in 2000, the year PlayStation 2 was released.

    "This is likely a one-off trade following the CB (convertible bonds) announcement," said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management.

    "Focus is on whether the firm can achieve synergy effects through the tie-up with Olympus," he told Dow Jones Newswires.

    Sony has joined hands with the camera and endoscopes maker which had looked for business partners as it tries to move on from an embarrassing accounting scandal.

    In September, Sony said it would invest 50 billion yen in Olympus, citing its desire to tap the lucrative medical equipment business as its television unit struggles.

    Olympus said Monday it had swung back into the black in the first half of its fiscal year, reporting a $100 million net profit on the sale of subsidiaries unrelated to its core business, while the key medical systems unit posted an operating profit.

    Sony and its domestic rivals are all struggling due to the strong yen and falling prices of television and other products amid stiff competition from South Korean, Chinese and other makers.

    Moody's last week downgraded Sony's credit rating for the second time in a month, the latest blow to Japan's electronics sector where embattled Sharp has seen its own credit rating slashed to junk.

    The global ratings agency chopped Sony by one notch to Baa3 with a negative outlook, just above junk grade.

    sony stock is now at $9.81 a share

    https://www.google.com/finance?client=ob&q=NYSE:SNE




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    All this is making me feel bad for Sony.

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    Time to jump in an buy some shares for the sky rocket



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    Quote Originally Posted by Qurb View Post
    All this is making me feel bad for Sony.
    Yeah, me too. Hopefully everything gets better for Sony. Staying optimistic.

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    Who wants to bet when they'll go bankrupt?
    Truly, we live in the age of shitty games.


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    playstation expected release 2018 maybe...how are they doing playstation 3 wise?
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    Quote Originally Posted by owltalon012 View Post
    Who wants to bet when they'll go bankrupt?
    Ill be betting you get banned here first ;P

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    Nah i will be waiting for the new Sony's exclusives to release and see sony "Rising"
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    I highly doubt a company like Sony would go bust just like that. This is a natural occurrence... stocks rise and fall and rise again all the time. Sony has so many divisions that they could go on for years just on the sales revenue alone.


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    Quote Originally Posted by brotherfranciz View Post
    I highly doubt a company like Sony would go bust just like that
    they have been at this decline for the past 3-5 years because they pretty much lost first place in all the electronic markets they were in (Especially televisions/Cameras.)




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    Quote Originally Posted by The Secret Society View Post
    playstation expected release 2018 maybe...how are they doing playstation 3 wise?

    Neck and neck with Xbox 360 at around 70 million units, which is of course awful.
    That'll be the console that came out first and is supposed to be the media darling only level with a ' broken, fault riddled, backwards console with no real games of interest' ( to paraphrase somewhat ! ) by the way.


    PlayStation News: PS3 hits 70m to go neck-and-neck with Xbox 360 - ComputerAndVideoGames.com

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    Surprising, because in a very recent research it apearred the PS3 was sold as many times (if not more) as the xbox 360

    EDIT - the research in the post above me is the one I'm mentioning. It's really though sometimes to read :p


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    Cool beans. Still my preferred console. Thanks though.






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    If they still make profits, they will continue to sell products. They need to fix the Vita though. >_>

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    Thats an unfortunate read, thank goodness I don't have any of their stocks.

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    thanks for the posting...
    lord

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    Quote Originally Posted by The Secret Society View Post
    playstation expected release 2018 maybe...how are they doing playstation 3 wise?
    Another 5 years of PS3 fuck that if they wait that long they will be bust before its out
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    I just clicked to check who posted this thread. I was right

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    Moody's last week downgraded Sony's credit rating for the second time in a month, the latest blow to Japan's electronics sector where embattled Sharp has seen its own credit rating slashed to junk.

    THAT is the statement of real importance, because stock prices (by in large) mean nothing to the company itself, but the downgrade in credit means Sony's buying power has been slashed and slashed significantly.

    What is disconcerting for me is that Sony is choosing to get bigger, something that hasn't worked for any other company in this situation. GM tried that, and look what happened half a decade ago...

    The only saving grace us, as gaming fans, should take is that SCEA is a subsidiary, so it can (and will likely be) sold to a 3rd party or spin off as its own company and operate truly independently.

    In all likelihood, if Sony gets in real hot water, this is likely to happen as Sony will attempt to capitalize on its bigger brand names and liquidate its poorer assets.
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