Activision (ATVI) shares fell nearly 5% yesterday (and another 1% today) based on a slew of bad reviews for the Spider-Man 3 video game. Various reports point to the GameRankings.com score of 58% for the PS2 version.
I find this absolutely ridiculous and really points to the fact that a good deal of investors who are in ATVI don't understand the industry and got cold feet because of a bad review. As if bad reviews have anything to do with sales.
No matter the review, this game is going to sell like crazy simply due to the fact that the movie has done so well. Then, looking at it further, the 58% is the score for the PS2 version of the game. Granted, the PS2 has the largest installed base, by far, but the Wii version has a 65%, the 360 version has a 72%, the PS3 has a 75%, and the PC, DS versions are in the mid 80s. So, it's not as bad as it seems.
Also of substance is the fact that Spider-Man 3 has been released for every major system. It's everywhere. Add in that Activision did a good job pricing the game (PS2 $40, Wii $50, X360 and PS3 $60) and you'll have people picking up the game for the PS2 simply because it's $40.
Skittish investors don't belong in video game stocks. They just don't understand them, so I'll break it down for them: With Shrek the Third, the Transformers (being made by Traveller's Tales who does the LEGO Star Wars games), Call of Duty, and Guitar Hero, ATVI will be do just fine.