Nintendo Stock Crashes 9% After Fiscal Earnings Report
Nintendo’s share price took a huge beating on the Tokyo stock market a day after the company published its fiscal earnings for the 9 months ending December 31, 2018.
The stock was at 33,880 yen (USD311) prior to February 1. After Nintendo reported their earnings, the stock swiftly plunged to 30,720 yen (USD282), effectively shaving off 9.19% of its entire market value.
The sell off could be attributed to the reduction of the Nintendo Switch sales target for this fiscal year from 20 million to 17 million.
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