Xbox 720 announcent begins to draw blood. GameStop stock price dropping

One the news of Microsoft XBox 720 allegedly ending used game support has lead to a dramatic fall in GameStop’s share price as reported by Forbes.

In October GameStop stated that that sales of used products accounted for 28% of overall sales and more than 48% of gross profits so it doesn’t take much imagination to figure out what this will do to GameStop’s bottom line.