Starbreeze gaming publisher has been a terrible stock to own. From almost 25kr (around 2.5 USD / Euros) in 2016 to a low of 3.4 kr yesterday. It's now up to 4kr today and I hope this was the bottom. I've been buying since 2016 all the way down to 3.75 and my position is 73% in the red.

A good article to summarise the details is here (Swedish). Earnings have fallen 56% and their latest game "Overkill's the Walking Dead" has been a flop. Their one successful game, Dead by Daylight, they sold off the publishing rights. So there is concern that they have made costly investments in games and it is not paying off.

I actually don't think the "Walking Dead" is a bad game, and believe, once the dust has settled it will gradually be a steady money maker for Starbreeze. They also have other games in the pipe that could pay off. But they haven't shown a track record for success and this is a bit into the future. I also know Starbreeze stock holders are a younger, fickle bunch. The stock has really been a roller coaster through the years.

I will have to wait until concrete sales numbers come in, but I am betting that Starbreeze is way over sold and if you are in the gaming industry, an investor has to expect some flops (Bethesda Fallout 76?). I expect the stock to recover to around 10kr in the next 6 months.