GameStop shares drop 6 percent over Xbox rumors
Rumors that the next Xbox could lock out used games prove costly for GME
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This morning, Edge Online released a report that Microsoft's next Xbox console would use activation codes to lock physical discs to a single console. Edge's report also states that the next Xbox will require an online connection in order to function. This move would effectively kill used game sales and rentals at businesses like GameStop, Gamefly, and Redbox.
In response to the news, GameStop is trading at $25.04 at moment, down 6.56 percent from yesterday's close at $26.81. On the bright side, the stock has recovered from a low of $23.83 today.
Edge Online's report remains unconfirmed by Microsoft, who is expected to announce its next console at E3 2013.