EA's share value drops after losing Juventus rights to Konami
EA has taken another hit after losing the Juventus license in FIFA.
Konami, who picked up exclusive rights to Serie A champion Juventus, forced EA to use a different name for the team in FIFA 20 and beyond.
This is rare for FIFA and EA, who have traditionally held exclusive rights to the vast majority of teams. Although this won't prevent EA from using player names and likeness, it nonetheless dealt a blow to EA's market value.
CNBC reports around a 3.28% drop in share value on Tuesday, from $92.22 to $89.11 per share. This always results in the value of the company itself dropping, which is standard when a company's shares are less desirable.
Although the decline is is noticeable, it's not actually that big. Nearly two weeks prior, EA shares lost 5% of their value after the launch of Apex Legends' Season 2. The game's Twitch numbers came in below expectations, which spooked investors.
EA shares stand at $89.70 at the time of writing, so there's only ever been a very minor recovery.
