Re:Sony stock price spikes up 9% after Microsoft's Xbox One ...
by minimaxir on Tuesday May 21, 2013 @04:18PM
(#5746558)
The reason I made was this post was that the spike occurred at the exact moment the Xbox One was announced at the conference. (1:05 PM EST).
However, looking at other Japanese stocks, I'm only finding one Japanese stock with similar behavior today to Sony's: Panasonic [1].
I'm not a fan of asserting that correlation equals causation, but the timing of the stock behavior is one hell of a coincidence. But I admit that I could be wrong.
http://www.guardian.co.uk/business/2013/apr/04/japan-quantit...
http://www.independent.co.uk/voices/comment/japan-has-finall...
etc. This is just part of the effect of dumping a trillion into the market.
EDIT: Not to say the xbox event is completely unrelated, but the real reason behind the gains is big money being pushed into the market. More than likely money earmarked for Sony was held off a day or two for news of MS releasing a flying console that could brush your teeth - but barring anything truly radical, the money was always going to go into Sony's stocks.