Nintendo's stock is paying the price as investors fret over weaker Switch 2 sales in the US [Yahoo! Finance]
NINTENDO CO LTD UNSP/ADR (NTDOY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
Nintendo President Shuntaro Furukawa said recently that overseas hardware sales were weaker than expected. The stock's decline nearly erased a surprise rally from Nintendo's "Pokémon Pokopia" hit. The move Nintendo shares slid on Tuesday on worries about Switch 2 sales, nearly erasing recent gains. The company's stock fell 5% in Tokyo trading, while its US-listed ADRs were down more than 6% in afternoon trading. Why : The stock fell after a report from Bloomberg said that the company is cutting Switch 2 console production to 4 million this quarter, from 6 million planned. Nintendo has denied similar reports in the past. The company has not commented on the latest report at the time of writing and did not immediately respond to Business Insider's request for comment. The reported production cut follows the Japanese company's weak console sales during its fiscal third-quarter earnings call. Nintendo President Shuntaro Furukawa said overseas sales were weaker than expected, wh
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News
- Nintendo Dropped a Switch 2 Update With a New Mode You'll Want to Turn On Immediately [CNET News]CNET News
- Nintendo reportedly cuts back on Switch 2 production due to weak sales in the U.S. [Yahoo! Finance]Yahoo! Finance
- This Upcoming Game Shows How Nintendo Switch 2 Game Cards Should Be [Forbes]Forbes
- Nintendo Switch 2 Production Cut 33% Following Weak Holiday Sales, Report Claims [Yahoo! Finance]Yahoo! Finance
- How Gamers Can Sneak Some Playtime Into Their Gym Workouts [CNET News]CNET News