[BLOG] Bad Day for Nintendo

[Bunny]

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Nintendo seems to be having a run of bad luck.



After announcing that it has cut sales predictions for the Wii U and 3DS worldwide, Nintendo stock prices took a hard tumble.



Wii U sales predictions were dropped from 9 million to just 2.8 million, while the 3DS was moved from 18 million to 13.5 million for the fiscal year ending March 31st, 2014.

Their stock price as it stands at the time of writing is $14.89. That's a drop of 17.04%, compared to the beginning of the week when China lifted its ban on console sales. Nintendo’s share price stood at $19 after that announcement.



After the launch of the Wii back in 2006, Nintendo Stock prices peaked at $76 in 2007 and have been falling slowly ever since.
This latest cut in sales figures means a net loss for Nintendo, and Nintendo President and CEO Satoru Iwata apologised to investors for this. He also stated he wouldn't be resigning but he won't be making any management changes in the near future.



Where will this leave Nintendo, and what will the future hold for them?