Nintendo shares drop most in two years
After Mario maker not added to the Nikkei 225 Stock Average, shares fall 8.4 percent to ¥10,860 ($109).
We'll begin emailing you updates about %gameName%.
Nintendo shares fell 8.4 percent today after the Mario maker was not added to the Nikkei 225 Stock Average. Shares dropped to ¥10,860 ($109) at the close of trading, the most precipitous dip since July 2011, Bloomberg reports.
Prior to today, Nintendo's share value had gained 31 percent this year on reports that the company's listing would be transferred to Tokyo from Osaka in a move that could have seen the stock added to the Nikkei, Bloomberg pointed out.
Last month, Nintendo announced a price cut for the Wii U, dropping the going rate from $350 to $300 for the 8GB Deluxe model effective September 20. The 8GB Basic version will be phased out. Nintendo also recently announced an entry-level portable system, the $130 Nintendo 2DS, which will launch on October 12 alongside Pokemon X and Y.
Nintendo will ship a number of marquee first-party titles in the coming months for the Wii U, including The Legend of Zelda: Wind Waker HD and Super Mario 3D World, but not all are hopeful that the struggling system can regain its footing.
"The early signs of key first-party software inducing a major turnaround in Wii U console fundamentals are not promising, and the outlook for third-party support is grim," CLSA analyst Jay Defibaugh told Bloomberg. "The value of iconic Nintendo franchises may be declining as younger generations discover gaming through mobile devices."
Why Zombie Games Refuse To Die What to Binge Watch on Netflix 2018 | Best Netflix Originals Why Detroit: Become Human For PS4’s Most Talked About Mechanic Is Its Worst History of Battle Royale More Battlefield 5 Details Emerge; Here's What We Know Netflix: The Best Movies / TV Shows To Watch In May 2018 Top New Game Releases This Week On Switch, PS4, Xbox One, And PC -- May 27 - June 2 Twin Peaks The Return: 1 Year Later Let's Play Resident Evil Code: Veronica Part 9 - Resident Kinevil 15 Minutes Of MotoGP 18 Gameplay Arrested Development Season 5 Catch-Up: What You Need To Know Apple Blocks Valve's New Steam Link App From iOS Release - GS News Update