President Barack Obama took to the podium Wednesday to issue a series of proposals on gun control following the shooting at Sandy Hook Elementary in Newtown, Connecticut in December. One of those proposals included a study on video game violence which caused stocks for Activision, Electronic Arts and Take Two to dip.
Vice President Joe Biden met with video game industry leaders last week to discuss the impact that video game violence has on aggression among children and how they tie in with shootings. Coming out of the meetings, industry officials expressed that they did not expect to be affected by any of the proposals.
“Congress will fund research into the effects that violent video games have on young minds,” President Obama said during his press conference.
The proposal is for Congress to provide $10 million to the Centers for Disease Control (CDC) to investigate the relationship between video games, media images and violence.
“If there’s even one thing we can do to reduce this violence, if there’s even one life that can be saved, then we have an obligation to try it,” Obama said. “I will put everything I’ve got into this, and so will Joe, but I tell you the only way we can change is if the American people demand it.”
Other solutions proposed by Obama include closing so-called “loopholes” to background checks, banning assault weapons and high-capacity magazines, making schools safer and increasing access to mental healthcare.
Activision stock slid 1.2 percent and Take Two slid 1.1 percent immediately following Obama’s statement. Electronic Arts dipped slightly as well but all three are currently pushing back up to their starting prices for the day at the time of this article.