Nintendo Share Price Takes a Tumble
When almost a billion dollar profit can’t help, what else can you do?
Nintendo shares have been the second most active on Japan’s exchanges over the weekend, as a strange bout of panic selling set in.
The company has seen its ratings downgraded to ‘neutral’ by most analysts, and has suffered a huge decline on its price. Trading today has seen the price fall by almost nine percent.
Nintendo has cut its forecasts for next year’s profit, stating that the drop in price of the Game Boy Advance and its games will lessen the company’s earnings.
Nintendo COO Mr Iwata also said that that there is a possibility that the company may cut the price of its GameCube in the forthcoming financial period, to keep it competitive with Sony and Microsoft’s offerings, both of whom are widely expected to announce a price-cut t this year’s E3.
It seems strange that in the same week Nintendo announced that it cleared almost a billion dollars profit last year, a seemingly slight hiccup in calculations can cause such a huge share price loss.
More as it breaks.
The company has seen its ratings downgraded to ‘neutral’ by most analysts, and has suffered a huge decline on its price. Trading today has seen the price fall by almost nine percent.
Nintendo has cut its forecasts for next year’s profit, stating that the drop in price of the Game Boy Advance and its games will lessen the company’s earnings.
Nintendo COO Mr Iwata also said that that there is a possibility that the company may cut the price of its GameCube in the forthcoming financial period, to keep it competitive with Sony and Microsoft’s offerings, both of whom are widely expected to announce a price-cut t this year’s E3.
It seems strange that in the same week Nintendo announced that it cleared almost a billion dollars profit last year, a seemingly slight hiccup in calculations can cause such a huge share price loss.
More as it breaks.
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