Nintendo Stock Craters In Wake Of Yesterday’s Investor Meeting
Shareholders aren’t too happy with the Big N right now.
Yesterday, Nintendo held its quarterly investor meeting and financial briefing. It was a notable one, because among other things, it was Nintendo’s first after the death of former company president Satoru Iwata, the first that the new company president would be heading. However, a lack of any meaningful information – Nintendo announced a new online service, but failed to provide specifics, they announced a new mobile game, but it seems to be based on the Mii property, and was delayed to 2016, and they neglected to talk about the upcoming NX console at all – seems to have scared off investors.
Nintendo Enthusiast reports that Nintendo stock tumbled by more than more than 10%, for a loss in market valuation of $2.48 billion. Yikes. Nintendo weren’t the only ones who took a beating, either, as apparently, their mobile partner DeNA saw their stock value degrade by 17%.
It looks like maybe people expected something bigger from Nintendo’s first mobile game than a Mii social app- although with the upcoming Pokemon Go, maybe Nintendo has those people covered already?