I have a small holding in Game Group (GMG), mainly because of the high dividend, my first purchase being back in September (A punt on a retailer)
The shares have faired badly, along with many other retailers, as consumers shelter from the constant bombardment of economic doom and gloom force-fed by the media and politicians.
So I realised a holding in Game wasn’t exactly a safe-haven, but the juicy dividend probably reflects the high risk.
So today’s trading update and share price crash wasn’t a surprise.
All the same, I purchased more shares today (at 11.47p), doubling my holding in fact, which reduced my average buying price from 21p to 16.24p – still well above the current share price though.
I fear these shares will continue to fall and I may well regret putting more money into this stock, but a good Christmas trading period and the new console releases next year might be enough to change their fortunes…