Angry Birds developer and publisher Rovio has lost $500 million in value in the last day, showcasing a primary example as to how cutthroat the business can actually be. This is around half of the company’s overall value, having been valued at $1.1 billion back in October 2017.
Company’s stock prices tend to swing when profit and revenue calls come around, though a drop as severe as seen with Rovio is out of the ordinary. Their stock closed on NASDAQ Helsinki at €9.95 on Wednesday, and dropped down to €4.94 by yesterday. This has since slightly increased to €5 since.
As to be expected, the franchise this late on is starting to fatigue. For many, the novelty is beginning to wear thin, and despite the successes of The Angry Birds Movie, there is still little that the franchise has to offer, bar a number of crossovers with other franchises, which probably aren’t going to be enough to keep it fresh.
Investors are bound to be showing concern by now, given that the only property that Rovio has to offer is Angry Birds. It’s hard to see where the next smash hit entry will come from, if at all. It certainly had its day, as one of the most popular mobile gaming franchises on the market for a long time, but the future at the moment seems unclear.
