Nintendo Co. suffered its biggest two-day drop in 18 months, befuddling analysts and sending investors scrambling to explain the sell off.
Shares tumbled 6.3 percent on Monday after losing 4 percent on Friday, the largest two-day decline since December 2016. The drop left the stock at its lowest level since September and at its biggest discount versus Wall Street targets in nearly a decade.
Analysts reported getting dozens of inquiries on Monday from hedge funds and investors eager to understand the sell off. Theories ranged from falling expectations for positive surprises at next week’s Electronic Entertainment Expo conference, known as E3, to troubles with Nintendo’s online games. Many also pointed to quantitative traders selling on weakening momentum, although short-interest remained low by historic standards.
“What is shocking is that recently there has been a lot of good news related to Nintendo,” Jefferies Group analyst Atul Goyal wrote in a report to clients, blaming the drop on traders who rely on technical chart analysis to make investment decisions. “Nevertheless, if chartists are giving a diametrically opposite view, we take this as an opportunity to reassess and review.”
Among the key technical signals, the stock fell through its 200-day moving average last month. That’s the first time it has traded below that indicator in about two years.
You know Metroid Prime 4 is currently in development, right?
Is Metroid Prime's cannon attached to his arm or it a part of the suit?
Not really surprising, the best games on the Switch are just Wii U ports. Those are nice to hold you over if you already own the system, but not something to buy a new console for when you could just buy a Wii U cheaper instead.
People might give a shit if the games were actually good. Once Nintendo gets bored of a series they will drag it out only for experimental games. StarFox was a spaceship shooting game, no one was asking for a Zelda clone with dinosaurs, but Nintendo forced StarFox onto what was to be an original game. Being just forgotten is the best thing that can happen to a Nintendo brand.
At least the rabbit got some use out of it. Labo is shit: the material is too flimsy for children, there is no educational value if you cannot experiment with it like a programmable kit, and whatever games you can play with it are just a boring gimmick. You should have bought a real game for your sister's son.
thanks for reminding us you're a retard from cuckchan lol
it's just metroid dumbass not metroid prime
Don't mind me, just sitting here watching this shitshow of a thread as conjecture meats more conjecture as soyboys and PC/Sonyniggers duke it out while neither knowing what they're talking about.
make a new nintendo property game that isn't mario or zelda
Well here is a complicated situation: Cancel the fucking Switch's pay2play online services because it will go no where, the online gameplay is already ass: Oh yeah sure Nintendo will take care of that even though they don't know what the fuck they're doing.
You guys want to know why stocks dropped? It's actually really funny. It's one of those market psychology things. Should I give you a couple hints?
Videogames are sold/targeted at children Schools out for summer
maybe its time for someone else besides Nintendo to make killer titles
well yea that's what they get for selling people cardboard boxes and charging me to use THE INTERNET I ALREADY FUCKING OWN AND PAY FOR. these are exactly the jewish reasons I already left the other consoles to rot in a lonely videogame grave. fuck microsoft and fuck sony, and now fuck nintendo too. FUCK steam too. all a bunch of greedy evil cucks.
What you're arguing is the opposite of what's happening. You're retarded
You have to be 18 to post here
They're losing money because young men don't want to play Mario cuck simulator.