But then things looked up and the stock rallied, gaining over 20% through January. Nintendo stock closed out 2018 down about 40% from its highs from earlier in the year. It didn’t help that the Labo cardboard construction kits the company launched for the Switch failed to catch on with consumers. Nintendo stock hit 10-year highs in February, before taking a beating for much of the year as Switch sales began to slow. For this company especially, the delay of a key game title can have a real economic impact. The reason why investors were punishing Nintendo stock wasn’t just a knee-jerk reaction. Part of that hit included Nintendo stock, which dropped more than 5% in early morning trading on Monday. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Instead, the company not only announced a delay, but made the announcement that they were essentially throwing away the work already done on the project to start from scratch. They had been expecting to hear about a 2019 release date - some stores already have the game up for pre-order. 25, Nintendo fans got on update on the game’s status. The confirmation that Nintendo was working on Metroid 4 for the Switch was a big selling point. The Metroid franchise hadn’t seen a core entry in a decade, so there was considerable pent up demand. The Switch was brand new and games were in short supply. Today, Nintendo stock is down more than 5% on the news that there’s no release date in sight for this highly anticipated Switch game.Īt the E3 video game conference in 2017, Nintendo announced that Metroid Prime 4 was in development for its newly released Switch game console. On Friday, Nintendo announced that Metroid Prime 4 for the Switch is going to be delayed. However, the release of Super Smash Brothers for the Switch came just in time for the holiday shopping season and drove Nintendo stock rally in 2019 that lasted until today. Nintendo (OTCMKTS: NTDOY) had a bumpy 2018, with sales of its Switch console slowing and its Labo cardboard accessories failing to catch on with consumers.
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