THQ shares tank off the back of bad Homefront reviews
Reuters is reporting that THQâ€™s shares have taken a battering since the review of their biggest title of the year, Homefront, have been revealed.
According to Janco Partners analyst, Mike Hickey
“The market is a quality driven market (and) you need at least a score of 80 and above on Metacritic to do well.â€
Thatâ€™s all good and well but thatâ€™s not what Homefront has on Metacritic.
THQ has a lot of money riding on Homefront and while we gave it a 7.4 I think itâ€™s pretty safe to say that itâ€™s not going to be able to average out at over 80 on Metacritic now which generally means it wonâ€™t have much staying power and the sales will start to dwindle.
Having said that the sales of Homefront have so far been spectacular with over a million sold already so maybe the massive marketing campaign (rumoured to be the biggest gaming marketing campaign in SA history) will help push this game into profitable territory.
THQâ€™s share price has dropped 20% on the back of these bad reviews so lets hope for them that the marketing campaign can pull the share price back up to parity.