Sony Stock Rises After E3 Presentations

As those who are interested in the stock market know, Sony’s stock prices recently plummeted to their lowest level since the 1980′s. But, now that Sony has revealed a lot of products at E3, the stock price is increasing.

Now, we all understand that correlation does not equal causation, and since Sony is such a large and powerful company, many other factors affect its stock price…but it’s hard not to draw some connections between the E3 reveals and the stock price.

Just look at the raw facts: As of Monday, stock prices opened at and between $12.60-70 per share. But, when the market opened Tuesday, prices rose to around $13.50. While this is only an increase of a dollar, one day increases of that scale for large companies are not super common.

So, it could be concluded that E3 is proving a profitable endeavor for not only Sony, but for stockholders as well. It’s certainly an interesting premise, but does it have any real substance?

Well, what do you guys think? Is the increase a result of E3, or is this just random happenstance?