E3 2011: Nintendo’s Stock Drops Drastically After Wii U Reveal

on June 8, 2011 4:30 PM

I’m still having mixed reactions to the Wii U’s new styles of play, and apparently I’m not the only one. According to Bloomberg, Nintendo’s stock dropped to its lowest point in over five years.

An old adage says to “buy on the rumor, sell on the news,” but this is quite drastic.

“There were high expectations from the new version of the Wii and this fell far short,” Yusuke Tsunoda, an analyst at Tokai Tokyo Securities Co., told Bloomberg. “People had expected to see something more at a big event like the E3, but there wasn’t really anything more than what’s already reported.”

Shares fell 5.7 percent at the end of the trading day in Osaka.

[Bloomberg]