Following the recent cuts in sales, Nintendo is on it's way to a full blown shutdown.
With the recent announcement of the Wii U and Nintendo 3DS' projected sales being cut down drastically, the company took a huge hit in their stock, going down 17.09%. The share price now sits at $14.89, compared to the almost $18 it started with today. To make things worse, their numbers seem to have gone down an incredible amount when compared to their amount less then a week ago, at over $19. This number was the highest it had been since 2012, and was a signal that the company might finally be out of their array of oncoming losses.
Following both of these announcements, Nintendo's CEO Satoru Iwata gave an apology to all of the company's investors, and also stated today that he would not be resigning due to these events.
"There will be no major management shake-up in the short term,"
Check in on my previous article about the price cuts if you would like the full picture of what is currently happening to Nintendo, and how this particular event came to be.
Source: IGN.com
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