Nintendo Stock Takes A Kick In The Mushrooms After Lackluster E3 Announcements
Nintendo didn't exactly have a stellar E3 with only a few enticing games unveiled at the show. Nintendo's stock price is now taking a beating and some are blaming its lackluster announcements at E3 2018 for the declining share price. Many investors have doubts concerning Nintendo’s ability to hit its hardware and software sales goals.
The most recent stock decline happened this week on the Nikkei, which is a stock market index for the Tokyo Stock Exchange. The Nikkei recorded a decline of -5.27% for Nintendo's stock.
Nintendo thinks it can still meet its goal of shipping 20 million consoles before the end of its fiscal year. Outgoing Nintendo President Tatsumi Kimishima had a final meeting with shareholders recently and directly addressed shareholder concern about the lack of games offered at E3. Kimishima simply said that E3 wasn’t the right time to announce all the games Nintendo has in its line for 2018.
Kimishima noted that there are big titles that have yet to be announced and that all the games will be available for purchase by the holiday season of 2018. With Nintendo's stock taking a beating it may be a good time for the gaming company to start sharing details on those games. Kimishima says that the games in the fall lineup are "powerful" and will be revealed at the appropriate time.