More bad news for Sony; following yesterday’s discouraging financial report, the giant’s shares have fallen 7% and hit a 32-year low.
Sony itself has said that it believes things can be turned around, though some aren’t as optimistic.
“I didn’t see anything positive in there,” a US trader tells Reuters (via). “There is really nothing in there that can justify buying the stock.”
“You see the loss narrowing in the TV business. That’s fine, but I don’t see any future in the TV business, so it doesn’t matter what they do.”
Furthermore, Fukoku Capital Management’s Yuuki Sakurai tells the BBC: “Sony is facing a lot of difficulties and the new president has not been able to produce a clear plan as to how he will turn around the company.”
“The little that investors have heard, they are not very impressed with.”