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    The Real Reason Why the PS5 Announcement Crushed GME Stock thumbnail

    News about the latest PlayStation console couldn’t save beleaguered gaming retailer GameStop (NYSE:GME) this week. Gaming consoles tend to have seven-year lifespans, and as this year marked the end of one cycle, details about the next wave of hardware were highly anticipated. This week’s update on Sony’s next-generation PlayStation console, PS5, created a buzz among gamers but sent GME investors running for the hills as the stock slid 5% in just 24 hours. What Gives? Shares of GameStop plunge in the wake of PS5 announcement. | Chart: Yahoo FinanceThe GME stock slide may have come as a surprise considering hardware sales were a huge part of the firm’s disappointing September
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