This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Dumbest Things on Wall Street: March 5

Sony's PlayStation Problems

Move over Toyota (TM), there's a glitch at another giant Japanese manufacturer.

Sony (SNE - Get Report) admitted on Monday that a bug is knocking some PlayStation 3 users off the game console's online network. The company says the problem was likely caused by a Y2K-like problem in the system's clock. The problem was discovered Sunday night when PS3 users playing older models, not the newest slim version, began seeing the system's date reset to Jan. 1, 2000.

"We hope to resolve this problem within the next 24 hours," said Sony on its PlayStation blog. "In the meantime, if you have a model other than the new slim PS3, we advise that you do not use your PS3 system, as doing so may result in errors in some functionality, such as recording obtained trophies, and not being able to restore certain data."

PlayStation

But when you think about it, who can blame Sony for wanting to turn back the clock a decade?

In January 2000, Sony's stock price was close to $120 a share and the Walkman/Discman still ruled the world. Now shares of the humbled Japanese giant sell for around $35 a share and Apple (AAPL) dominates the consumer electronics market with its iPods, iPhones and other gadgets.

Our advice to Sony is to pray for divine intervention. PlayStation's blockbuster game "God of War III" comes out in just a few weeks, and Sony needs all the help it can get.

Dumb-o-meter score: 75 -- If this latest flub won't smite Sony, let's hope the God of War is not vengeful.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
GS $198.59 -0.36%
SNE $30.79 -1.20%
C $53.72 -0.83%
DNDN $0.06 -6.02%
TSLA $232.33 0.79%

Markets

DOW 18,000.30 -70.10 -0.39%
S&P 500 2,098.97 -15.52 -0.73%
NASDAQ 4,957.1380 -59.7910 -1.19%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs