Nintendo Stock Crashes 17% in Wake of Net Loss News


The stock market is a finicky thing. In a statement released on Friday, Nintendo CEO Satoru Iwata revealed that Nintendo would experience a net loss of 35 billion yen over the fiscal year, and drastically lowered its sales forecasts across the board for all platforms, with the Wii U and 3DS now predicted to sell 2.8 million and 13.5 million units respectively, down from 9 million and 18 million. As a result, company shares dropped from $17.96 to $14.90 in a single day, a decrease of 17%.

Speaking to
reporters however, Iwata affirmed that
he is under no pressure to leave the company as a result of Nintendo’s poor financial result.

Source: Nasdaq

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