Shares from Sony down!

Posted by Arutha

December 17, 2008

For all you budding stock market people out there, now might now be the time to be thinking about getting shares in the giant that is Sony, or if you already have some then you might want to stop reading here. It’s alright I’ll wait.

Now it’s been reported that Sony shares have dropped a huge 5.9%, which is their lowest total ever during a week in the Tokyo trading.

It all began when financial services group Credit Suisse cut its investment rating on Sony, citing a loss of competitiveness (lack of sales I think that means).

A quote from Credit Suisse says the following:

“The company needs to buck up its ideas if it’s to stay competitive with the likes of Nintendo and Apple.”

I am not quite to sure why he said Apple but I think that he meant Microsoft (I am always getting those two confused myself).

So combine this with the job losses at Sony and you looking at a bad situation that has just got very worse, let’s hope that they do not do a Woolworths on us now.

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