Nintendo stock spikes, speculation points to pre-TGS event
Share price jumps nearly 9 percent after plans unveiled for September 13 3DS-focused Nintendo Conference in Japan.
It has been a rough summer for Nintendo's stock price, but investors are apparently willing to get back on board with the company. Nintendo shares jumped more than 9 percent today after the company announced a Nintendo Conference event to take place in Japan next month, just days prior to the Tokyo Game Show, which runs September 15-18.
The closed-to-the-public event is set for September 13 and will be dedicated to the 3DS, according to a Wall Street Journal report. Tokai Tokyo Research Center Yusuke Tsunoda told the paper a major announcement is in the cards, saying, "Be it new games for the 3DS, or an upgrade to the hardware itself, Nintendo needs a big surprise." Nikko Cordial Securities analyst Eiji Maeda echoed that sentiment, saying "a new product is something the company badly needs right now."
Investors aren't the only ones buzzing about new 3DS news. Earlier this week, French gaming site 01net cited a Nintendo employee with information that the company is working on a second analog thumbstick peripheral for the 3DS as well as a new version of the handheld hardware with a 2012 release window.
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