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Logitech Stock Takes a Hit Following Titanic Submersible Implosion

Published

10 months ago

June 26, 2023

Logitech controller was used to steer the Titan

Logitech, the well-known technology company, faces the consequences of its involvement in the ill-fated Titan submersible, as its stock takes a hit and receives a barrage of negative reviews. According to Channel News, recent reports revealed that a Logitech controller was the steering device for the submersible during its voyage. OceanGate, the company behind the submersible, disclosed that the vessel was constructed using various off-the-shelf components, including scaffolding pipes. One of the most surprising inclusions was this: a modified Logitech controller was used to steer the Titan.

Following the revelation that the submersible went missing after losing connection with its mothership, Polar Prince, Logitech’s US-listed shares have plummeted by 3.4% since last Monday. The stock experienced a significant plunge of up to 11% on Wednesday but has slightly recovered to $55.71 (R1 034.84) during early Friday trades.

The Logitech F710 wireless controller, primarily used for video games on PlayStation, has also been available on Amazon. The product, priced at $59.99 (R1 114.28), has a four-star rating but has now become the subject of sarcastic reviews and inquiries about its suitability for piloting a submersible.

The sarcastic comments flood the question and answer section on the Amazon listing, with users asking if the controller can be used for submersible navigation and providing tongue-in-cheek feedback such as “Perfect for controlling my submersible. I love finding economic solutions to my problems.”

Also read: OceanGate CEO Admitted to Breaking Rules in Construction of Titanic Sub that Later Imploded

In fact, there’s even a trending TikTok video on the subject. Check it out below:

@tammioli We are the controller you buy when you don’t want to spend the money on PS5 Controller 🎮 😱#logitech #logitechcontroller #oceangate #titan #titanicexpedition #titanicmovie #tammioli ♬ original sound – Tammi

While Logitech’s involvement in the Titan submersible has caused a stir, it’s important to note that a submersible cannot operate independently without its mothership, unlike a conventional submarine.

OceanGate’s CEO had previously boasted about the unconventional components used in the submersible’s construction, humorously highlighting the Logitech F710 controller as a critical part of the innovative design. However, he was one of the five aboard the submersible who are believed to have died in the implosion.

On Thursday afternoon, the US Coast Guard announced the passengers’ deaths. This announcement came out after discovering debris from the vessel on the ocean floor. A top-secret US Navy system detected the implosion. It picked up acoustic signals and sounds associated with the tragic event.

Logitech continues to face the aftermath of its connection to the Titanic submersible incident, with investors concerned about its impact on its reputation and prospects.

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