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Nintendo Stock Price Continues To Slip After Short-Lived Rebound
Less than a week after stock prices plummeted to $14.90 a share on the tail of the revised Wii U sales forecast, Nintendo US stock prices recovered a bit to $16.70 on Jan. 22. However, since that point, prices have been dropping again, though not as rapidly, as the world waits to see what Nintendo has up it’s sleeve.
On the day of the revision, Satoru Iwata, president of Nintendo Co., Ltd., stated that they were considering a new business model, and exploring the mobile market as a possible destination. Rumors abound of a Nintendo phone, but others simply believe that Nintendo will drop from the console business to focus on the wildly successful handheld business.
“He will be under pressure to make dramatic changes,” popular market analyst Michael Pachter said in a Jan. 17 e-mail to Bloomberg. “If he can’t make change happen, the company should find someone who can.”
Iwata’s experience in the market give him enough hold in the company, and is a great starting point to get the ball rolling one whatever may come next. A new console developed to the market, rather than to in house desires, may be the key, but given Nintendo’s history of five-year console cycles, it’s not likely we’ll see a new one for some time.