GameStop shares fall after Wal-Mart announces video game deals signaling possible price war

GameStop shares tumble on Wal-Mart game deals

NEW YORK — GameStop’s shares are falling after an announcement from Wal-Mart that the big retailer is offering deals on popular video games and the Nintendo Wii leading up to the holidays.

Wal-Mart Stores Inc. said Wednesday it is lowering the prices of the most popular video games until Christmas Eve. It’s also running a promotion from Saturday through Dec. 12 giving shoppers who buy the Wii game console a $50 gift card.

Analysts say the Wal-Mart deals could undercut GameStop’s holiday sales or drive it to lower prices too.

GameStop shares are down $2.14, or 9 percent, at $21.70 in midday trading.