During trading on January 17, shares of Japan’s Nintendo fell 5.9% after the first showing of the new Switch 2 game console, Bloomberg reported. According to the agency, this is the largest intraday drop in the company’s shares since the end of September.
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At the close of trading on Friday, Nintendo shares on the Tokyo Stock Exchange slightly slowed their fall to 4.26% and cost 9.18 thousand yen per share (approximately $58).
The company showed off the Switch 2 the day before, on January 16. The Verge noted that the console is similar in appearance to the first version, but is larger in size and has functional differences, such as a new button. Nintendo will reveal more details about the device on April 2 during the Direct stream.
“Stocks fell because the Switch 2 reveal was consistent with what was leaked and contained no surprises,” Hideki Yasuda, senior analyst at investment firm Toyo Securities, told Bloomberg.
At the same time, he expects the price of the titles to return to their original value, as investors’ attention will focus on the console’s sales launch date and its price, which should be announced on April 2.
The first Switch was released in 2017 and gained popularity among gamers. According to Nintendo, as of September 2024, the company has sold a total of 146 million consoles.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
