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Nintendo stock crashes on 3DS price cut news

You can’t win them all, that’ll be what Nintendo is thinking this morning after news that its 3DS price cut has not went down well with stock holders.

In fact you could say the stock holders saw the price cut as a bit of a disaster as according to Bloomberg, following the news of the price cut shares in the company fell by a huge 21 per cent in Japan.

To put that into perspective, that’s an all-time record high for a single day drop since records began and it could result in Nintendo president Hiroshi Yamauchi seeing his personal fortune fall by $312m due to his 10 percent share holding in the company, that’s a lot of Nintendo 3DS’s.

Things will no doubt recover as sales of the device will no doubt pick up, but it just shows you that the rich don’t always get richer.

Edited On 29 Jul, 2011

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