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.