If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.

Nintendo stock plummets 21 percent

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.

[image]

Support VG247

You give us money, we give you an ad-free reading experience, merch discounts, a newsletter every month, and elite status amongst your friends.

See more information

Comments

More News

Latest Articles

VG247 logo

Buy our t-shirts, yeah

They're far more stylish than your average video game website tat.

VG247 Merch