Nintendo stock falls 9.3 percent due to lower Switch console sales target

Nintendo stock recently fell about 9.3 percent over the lower Nintendo Switch console sales target. Read on below for some more insight:

“Nintendo shares dropped more than 9.3 per cent on Friday after the Kyoto-based games company cut its full-year forecast for 20 million shipments of the Switch console — an outlook that analysts had warned was too ambitious.

“The company was unable to prevent the battering of its shares throughout Friday’s trading session with a strategy briefing where the company’s new chief executive, Shuntaro Furukawa, laid out plans for a Nintendo-themed Hollywood movie, theme park rides and a dedicated store in central Tokyo just a few kilometres from the main stadium for the 2020 Tokyo Olympics.”



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