Riccitiello blows $1 million on EA stock
by Ludwig Kietzmann 
{ Nov 5th 2008 at 1:30PM }
Look, we know being the big shot CEO of one of the world's biggest publishers affords you plenty of opportunity to, well, afford a bunch of expensive stuff ... but blowing your cash on EA stock? Worse still, blowing it on 42,500 snippets of stock, to the cumulative value of just over a million dollars? Sounds like a bad idea, honestly.
Perhaps you haven't heard, but EA lost quite a bit of money in the last quarter. It seems your company's been spending dough on developing -- you won't believe this -- "new" IP. Do you really want to support a company that's dumping funds into crazy, non-sequel projects? There's just no way that's going to fly. You're better off investing in those Activision guys. Trust us, people are never ever going to get tired of Guitar Hero 27, Tony Hawk 19 and Tony Hawk Presents Guitar Hero Featuring Spider-Bond. See you in the short-term, Ricci.
Reader Comments (Page 1 of 1)
ColossalHat @ Nov 5th 2008 1:33PM
I came very close to not catching the sarcasm there. Well done.
Antichristarcade @ Nov 5th 2008 7:12PM
I would happily play a game titled Tony Hawk Presents Guitar Hero Featuring Spider-Bond.
idiot @ Nov 5th 2008 1:40PM
*afraid of weighing in with a serious opinion because of the inevitable DUDE SARCASM NOOB attacks*
BananaBoat @ Nov 5th 2008 1:43PM
Serious opinions aren't welcome here. It's obvious that he's buying while it's low, since he has insider knowledge that it will probably go back up. But since we can't give serious opinions, I will just say...
Pants
That is all
xtremeholymuffin @ Nov 5th 2008 1:50PM
DUDE, SARCASM NOOB!
Duke @ Nov 5th 2008 2:05PM
Also, it’s a common practice to restore faith in stock holders by placing your own money in the stocks that you want to see bounce back. But that's silly thinking - insert something more sarcastic here.
Mark @ Nov 6th 2008 3:31AM
Sarcasm or not, it is actually a good time to buy EA stock right now,
1) the price is relatively low,
2) the USDollar has stopped going up for a bit
3) titles like Dead Space, Mirror's Edge and other goodies expected to sell in the time prior to holidays
4) The boss himself has both thousands of shares thereby decreasing the supply, and indirectly increasing the supply.
While I trade currencies, not exactly stocks; I can sure tell he knows what he's doing (at least in the trading department). And hopefully this will encourage him to publish less rehashed sports titles and more good games like Crysis
Shagittarius @ Nov 5th 2008 1:45PM
Its a good way to show you have faith in your ability to lead and in your company. Its especially effective when you actually believe yourself as well.
Haggard @ Nov 5th 2008 1:47PM
plus he's gonna make loadsa' money
Neuromancer @ Nov 5th 2008 1:47PM
I think he's betting on Madden 2010 outselling its competitors next year.
Dirty @ Nov 5th 2008 1:47PM
Probably wants to help defend against a Disney take over.
dark_inchworm @ Nov 5th 2008 1:56PM
So he learned more than one thing from T2, I take it.
Mr Khan @ Nov 5th 2008 2:06PM
A show of executive confidence
Courtney @ Nov 5th 2008 2:31PM
"Tony Hawk Presents Guitar Hero Featuring Spider-Bond."
That sounds like fun. Hell, I'd settle for a Spider-Bond game, whatever it ended up being.
Bleu @ Nov 5th 2008 5:21PM
yo that was halarious....if EA were to get bought out it would serve them right for all the crap they have done in the past.
Tony Bowman @ Nov 5th 2008 3:07PM
"be greedy when others are fearful. be fearful when others are greedy." warren buffet
hvnlysoldr @ Nov 5th 2008 3:08PM
The entertainment industry is depression-proof. Ask all the movie theaters and radios during the Great Depression. And yes I mean talk to them, I've been that greatly depressed.
Demona @ Nov 6th 2008 9:20AM
If I had to guess, I'd say he's banking on the theory that TOR will be the "WoW-killer". It won't be (WoW players will play WoW), but it will definately earn a lot of coin. He's just picking up the stock early, while it's still low.