Oh how the mighty fall, again. Game Digital had, like a phoenix from the flames, risen from administration three years ago to float on the stock market valued at £340m last year.
It became the LSE’s biggest share price riser throughout the year – starting 2015 with shares priced at 75 per cent higher than they listed.
Its annual reports, published in October, featured its board of directors mocked up as Grand Theft Auto characters. The gangsters of the video game world, winning at business, winning at life, winning at share prices.
Until now. Last night Game Digital released a surprise a profit warning. It expects to come out with £51.3m for the year rather than the £63.7m expected by analysts. Since the latest figures were released after the bell, we suspect this will take it toll on the share price this morning.
“Jeez, a profit warning from high-flying Game Digital at 5.09pm... perhaps prompted by the update coming out shortly from US peer GameStop,” suggested veteran retail analyst Nick Bubb.
This year’s board of directors video game mock-up might be a bit different. How about some Street Fighter characters? They might have a fight on their hands...