Nintendo's stock plunges in the face of slower Switch sales
Despite Nintendo's Reggie Fils-Aime reaffirming his belief in the lineup for the rest of 2018, and former president Kimishima saying that there are still more games planned for this year, shareholders haven't eased their concerns, and Nintendo's stock value dropped by a significant 5.27% today. The Nikkei - a stock market index for the Tokyo Stock Exchange - points to slower than expected Switch sales and the lack of information on upcoming games as the main reasons for the bad news.
Games in the Super Smash Bros. and Pokémon franchises tend to be big hits for the Japanese company, and it's likely that these temporary setbacks delivered to its stock will be overturned by the launch of the new titles in those franchises later this year, but perhaps it should have used a more of its time at E3 to showcase more upcoming games.
Nonetheless, Nintendo Direct events happen somewhat regularly and we could see more announcements and details in the coming weeks and months, which could help ease the worries of shareholders and traders.
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Related Forum: Gaming Discussion
Source: https://www.neowin.net/news/nintendos-stock-plunges-in-the-face-of-slower-switch-sales
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Comments
Miko537Posted:
Weren't expecting this considering how well i thought the Switch was doing for them?>
samulePosted:
doesn't really surprise me. i feel as if nintendo had once more chance to prove themselves worthy of a competitor with other companies such as sony and microsoft.
XeCookiePosted:
As MushroomElm said below overtime the demand was bound to decrease shouldn't be a surprise at all..
MushroomElmPosted:
sales stagger after time. I don't see why stocks should plummet because of this. They weren't always going to sell so fast theycouldn't keep up with demand..
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