Nintendo Stock Price Drops After Latest Switch News

Nintendo made a lot of big announcements about its new console, the Switch, last night. The company announced the console's price and release date, confirmed that The Legend of Zelda: Breath of the Wild is a launch title, and revealed a new Mario game, among many other things.

Not everyone is enthusiastic about all the news, however, it seems. Nintendo's stock price is down 5.75 percent today on the Tokyo Stock Exchange. It closed at ¥23,750 today in Japan, the lowest since December 22 (¥23,595). Nintendo's share price took a more dramatic dive after the initial Switch reveal in October 2016; share value also dropped following the launch of Super Mario Run.

The latest drop in share price could be attributed to a number of things. Dr. Serkan Toto, an analyst in Asia, said after the initial Switch reveal that he was skeptical about its ability to reach a wide audience.

"Sorry, but is a portable/home console approach really that innovative in 2016? I am most concerned about the target group of the device: who else but die-hard Nintendo fans will buy the Switch?" he said at the time.

Earlier this week, the Game Developers Conference released its newest State of the Industry report. 50 percent of surveyed developers said they thought the Switch would sell better than the Wii U, but not everyone agreed that the hybrid concept would be all that appealing. Additionally, just three percent of those surveyed said they were currently working on a game for the Switch.

The Switch launches on March 3, priced at $300. For lots more, check out GameSpot's roundup of all the big news from last night's announcement event here; a second livestream event, focused on games, will be held today, January 13, beginning at 6:30 AM PT / 9:30 AM ET.