Interplay CEO Buys Own Company’s Stock

Brian Fargo, chief executive of Irvine-based game developer Interplay Entertainment Corp., bought about $125,000 worth of his company’s common stock Monday, Interplay said.

Fargo’s purchase of 50,000 shares at $2.50 each was driven by the company’s low price and the executive’s desire to reassure Wall Street. “I’m bullish on our product lineup for this year and I believe our long-term outlook is good,” he said.

The company’s stock traded as high as $8.25 last July before slumping to $1 a share late in October. The stock closed Wednesday at $2.50, up 19 cents.

Despite Fargo’s optimism, Interplay recently reported that it lost $17 million in its fourth quarter on a sharp drop in revenue, largely because of delays in shipping new games.