Nintendo’s Stock Plummet Cost One Man $500,000,000
The man, a Mr. Hiroshi Yamauchi, who was the former president of Nintendo and the previous owner of the Seattle Mariners baseball franchise has only one company to blame for his loss, and that’s Nintendo as their bubble burst just recently after so many years of being a highly successful and profitable stock purchase.
Now the company’s stock is more in line with what it should be valued at (at least in my opinion) since the company is living in a post-Wii world and as their monopoly on the handheld market has slowly been chipped away by mobile phones and increasing popularity of the Sony branded handhelds.
Most of the fault lies in the investors panicking about the poor first quarter the company had along with poor sales of the 3DS and the flop that was announcing the Wii-U at E3. The company’s stock hit its lowest point in the past five years at a respectable cost of ¥11,010.
Whether or not the company is going to make a rebound soon remains to be seen, but I can’t help but stifle a laugh at the company who just a few years ago was practically printing money from DS and Wii sales. They’re still a rich ass company, but finally brought down a peg or two.
The opinions and hate directed towards Nintendo are mine and mine alone, I apologize if any of you are offended by my dislike of something that many of you see as a company that makes games packed with sunshine, puppies, and rainbows. Ever since the N64 I’ve developed an intense scrutiny for the game company that used to be king of my entertainment center. If you’ve got a problem with my views, leave a comment.