Nintendo stock plummets 21 percent

Friday, 29th July 2011 07:33 GMT By Brenna Hillier

Investors haven’t taken Nintendo’s latest announcements well; its share prices have fallen by a fifth in the wake of poor first quarter financial results and a 3DS price cut.

Bloomberg reports Nintendo’s stock price had fallen by up to 21 percent to ¥11,010 by mid-morning on Friday, local time.

Nintendo stock had already taken a beating over the Wii U announcement hitting its lowest point in five years at ¥16,930. Not a record Ninty was looking to smash.

Former CEO Hiroshi Yamauchi, Japan’s (possibly former) sixth-richest man and great-grandson of Nintendo’s founder, is estimated to have lost ¥42 billion – $540 million – as a result of the investor panic.

On Thursday, Nintendo announced it would cut the 3DS price up as much as a third across all territories in August. The platform holder reported dramatic sales decreases and continued losses in its first quarter.

Thanks, GiantBomb.




  1. pukem0n

    serves them right for producing crap, nobody wants ^^

    #1 3 years ago
  2. The_Red

    Holy shit, $540 million loss for Nintendo’s great grandson!?!

    #2 3 years ago
  3. Sini

    holy fuck, if I lost half a billion overnight someone better be enrolled in under witness protection program.

    #3 3 years ago

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