SNE - Sony stock goes negative as Citi sees disappointing PS5 launch

Sony (SNE -0.3%) has dropped into negative territory after a note from Citi suggesting that the PlayStation 5 launch has disappointed so far. Data from VGChartz says the next-gen console has sold 4.5M units since launch, while Citi was expecting more than 5M units moved by now. That may be due to securing supplies of key components, Citi says. But it also may be against higher expectations after a "hugely effective" pre-launch marketing campaign.The company's target of 7.6M consoles by the end of March (outperforming the PS4's launch) is still within reach.Sony likely prioritized supply for Europe and the U.S. at the expense of the Japanese market, it says.

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Sony stock goes negative as Citi sees disappointing PS5 launch