THQ shares triple in volume as uDraw receives strong launch
THQ have announced their shares have risen nearly three times their usual volume, following indications that their new uDraw tablet product for the Nintendo Wii is set to celebrate a strong initial launch. The product, which launched last week across the US and is due out in Europe early next year, is currently sitting at No. 7 in Amazon’s top 100 list.
“THQ is up because their uDraw game is currently #7 on Amazon’s top 100 list, and it’s been moving steadily up since release on Tuesday,” commented Wedbush Morgan analyst Michael Pachter to TheStreet. “I think the market is reacting to a long-awaited hit, and their timing in front of holiday is really good.”
He continued, “The only thing that will hold uDraw back is supply, as the company said it intends to make only 1 million or so this fiscal year. If it’s sold out, I’m sure they will find a way to increase manufacturing capacity.”