Logitech Faces Stock Price Drop and Troll Reviews After Titan Sub Disaster

"OceanGate CEO Stockton Rush piloted the Titan submersible using a Logitech F710 controller designed for PC gaming. After the tech giant was seemingly implicated in the ill-fated expedition, the reaction from the stock market was instantaneous. According to MarketWatch, Logitech's share price started out the week at $56.73 on Tuesday morning. On Wednesday morning, it was at $54.73 and bottomed out at $53.91 by lunchtime, marking a nearly 5 percent total drop. By Friday afternoon, it had regained most of its lost value and closed out the week at $55.80 per share.

On top of falling stock prices, Logitech also faced troll reviews on Amazon for the F710 and other similar gamepads from the brand. "Got one of these for my submarine expeditions to the bottom of the ocean and the depths of hell," one one-star review read, per The New York Post. "I purchased this controller to pilot my homemade submarine. I'll keep you posted," a five-star review claimed. One interested buyer asked, "I'm building a homemade submarine in my backyard. Can I drive it with this or should I get the corded one?""

It's ridiculous how things like this affect stock. Out of all the issues with the sub, Logitech is probably low down on the list. Luckily it seems to be a small dip that rectified fairly quick.

Yewb,

That's dumb the controller almost certainly had nothing to do with the implosion.

It would be like blaming the lettuce because your burger was undercooked it has nothing to do with structural integrity.

CmdrShepard,

The whole premise of the article is dumb too as the stock only fluctuated by a few percent and was nearly back where it started at the end of the day which is pretty normal with stock prices.

Froyn,

Imagine the stock gains if the controller is recovered intact.

May,
@May@kbin.social avatar

It barely went down then gone basically back up... this is like those articles who say "people are FURIOUS about blah blah" and then it's only one tweet with no likes or retweets someone saying "i kinda dislike blah blah"

ffmike,
@ffmike@beehaw.org avatar

I've seen this "sub affects logitech stock" story a few times now, and I don't find it very credible. If you look at the 1-month or longer price of the stock, it's pretty evident that (a) a 5% intraday variation in price is totally normal and (b) the recent news that has actually hurt the stock price substantially is that their CEO resigned.

I'm skeptical that Amazon review trolls are buying enough stock to move the market.

Ronno,
@Ronno@kbin.social avatar

If such a thing can drop its price, be sure that it would be a great buying opportunity

dudeami0,
@dudeami0@lemmy.dudeami.win avatar

Click bait titles stitching together memes and selling it as reality at it again.

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