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).


Super Mario 3D World

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.

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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."

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