Funcom suffering a loss of investor confidence
Funcom, makers of Age of Conan, are dealing with some serious financial flux. Since the launch of AoC, their stock has tumbled from $54 to $24 a share on the Oslo Stock Exchange (last price as of the end of the trading day on Friday). This represents the loss of over 55% of the stock value. With little news coming from the world of high finance on the subject, it seems that investors may be jumping ship from the gaming industry starlet.
Much speculation continues to be made regarding the true status of Age of Conan and its success or failure, with references to the bugs of all sizes seen post-launch. There have also been several accusations of forum censorship and a number of highly publicized player flights from the game, which may be contributing to market fears that the game is in trouble with its fan base.
On the flip side, it should be noted that the price of Funcom stock had been fairly steady, around $25, for several months prior to March of this year. A sharp increase in price coincided with the release of X-Play pre-order statistics for AoC about two months before boxes hit the shelves. That was followed by a distinct downturn just a few weeks after the game's drop date and the slide has continued since, returning it back to familiar price territory just this past week.
So the question remains: was the $54 stock price just a temporary bubble around the launch when pre-orders were running rampant or have investors been scared off with the sentiment around the game?
