Nintendo shares tumble on DSi announcement

By Patrick Garratt, Friday, 3 October 2008 07:48 GMT

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According to this Bloomberg report, Nintendo investors clearly weren’t impressed with the firm’s DSi announcement yesterday, with the company’s shares falling 3.7 percent in the aftermath.

The stock rested at 39,500 yen on the Tokyo Stock Exchange. The stock, which more than doubled in each of the past two years, has lost 41 percent in 2008, while Sony shares dropped 51 percent.

“Nintendo’s announcement on the DS didn’t exceed investors’ expectations,” said Yoku Ihara, head of equity research at Retela Crea Securities Co.

“The stock market was so bearish that the news didn’t help the shares gain.”

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