Nintendo shares after financial report plunge 9%

Nintendo failed to share its financial report for last quarter, as the companys shares fell 8. 8 percent โ€” the biggest drop in two years. Bloomberg analysts say the situation related to the fact that the companys quarterly profit falls short of expectations.

Moreover, there is concern that returning the world to a familiar state after a pandemic will affect further consumer demand โ€” it will down. Nintendo recalled that the shortage semiconductors and logistics problems still affect console production.

For example, the drop in Switch Lite sales can be linked to declining inventories in Europe and the United States โ€” the situation was much better last year. Hideka Yasuda, analyst at Ace Research Institute, noted that the games Nintendo for last quarter failed to โ€œpatch the holeโ€ left by mega-successful Animal Crossing: New Horizons.

The company faces another tough period ahead, which could be a little bit. The Japanese giants next long-awaited game, The Legend of Zelda: Breath of the Wild, is due out no sooner than 2022.

Nintendo is now counting on the successful launch of the new Switch model with a large OLED screen, which will be released on Oct 8. Recall that the announcement of the new Switch has caused many investors to backlash โ€” after that, the companys shares also fell 15% .

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