DSi announcement didn't keep Nintendo stocks from falling

by Ross Miller { Oct 3rd 2008 at 4:44PM }

Despite revealing a new DS iteration -- the first since February 2006 -- Nintendo's shares on the Tokyo Stock Exchange dropped 3.7 percent to 39,500 yen on the Tokyo Stock Exchange. Bloomberg notes that the stock has dropped 41 percent overall n 2008, compared to the past two years where it doubled in each of those. Comparatively, Sony's stock has dropped 51 percent this year.

While much can be attributed to the global economy at the moment, equity researcher Yoku Ihara said the DSi reveal "didn't exceed investors' expectations ... the stock market was so bearish that the news didn't hlep the shares gain." In other news, the console maker is still paying people to pay other people to count its ridiculous amounts of money.

Tags: dsi, nintendo, stock, tokyo-stock-exchange

Reader Comments (Page 1 of 1)

idiot @ Oct 3rd 2008 4:49PM

I *almost* bought a lot of shares the other night before the announcement.

*shudder*

Marty @ Oct 3rd 2008 5:13PM

Hopefully you're not an Apple stockholder either - they sunk below $100, and have lost about half their stock's value (about $90 a share) over the last couple of months.

ill trooper @ Oct 3rd 2008 5:31PM

Marty, I really like Apple, so I notice every time just how much you hate Apple... You go out of your way to mention them, even off-handedly like here!

But I'm with you on yesterday's beatdown on the naive republican Bass Master, so I guess it evens out for me.

Stocks will be back, if you have it in you, it's a good time to buy.

Marty @ Oct 3rd 2008 6:02PM

I wasn't mentioning them out of hate, I just noticed how badly they've gotten hit over the last few weeks. I'd invest in them if I were confident about where they are headed, but I don't think they'll be making the climb back up to $180+ a share for a long time.

And I don't hate Apple really - I'm just critical of them because the fanboys get on my nerves sometimes.

Orion @ Oct 3rd 2008 6:06PM

So lemme get this straight Marty... because some people are immature and annoying in their fanboyism you have to be an ass towards a company, who like any other company, has no control over what their fanboys say or feel?

Last I checked, there are annoying fanboys in EVERY camp, so are you just as critical towards every company equally? Gatta agree with Ill Trooper, and so no.

Mr Khan @ Oct 3rd 2008 6:29PM

I only really dislike Apple because of their commercials

I mean, if you WANT to make it look like your company caters to hipster douchebags in lieu of normal people, more power to you.

Marty @ Oct 3rd 2008 7:01PM

Look, I can be annoyed by whoever I want, and if I find Apple fanboys and their smug, idiotic banter more annoying than others, that's my business. You might find fanboys from the Linux, Microsoft, or Sony camps more annoying than others, and I would not fault you for that.

Regardless, and again, I only mentioned it because their stock is taking a *huge* beating, and not out of any malice for the company. The same's happening with Adobe (creators of Photoshop). Does my mentioning that make me anti-Adobe now too?

See, this is why I hate Apple fanboys. I say something completely factual about their stock, and I've got two people who are probably perfectly normal under every other circumstance suddenly giving me shit, acting like I'm out to get somebody. It's lame.

Ignatius @ Oct 3rd 2008 7:26PM

Apple fanboyism in a nutshell.

Every stock is dropping like a brick. I'm glad not to be an investor.

Immortal Technique PSN: johnnynumber5 @ Oct 3rd 2008 8:00PM

Everyones stock is taking a huge beatdown. It's not from poor performance (in all cases) but more of a bi-product of the financial crisis in the United States.

umm....hello??? @ Oct 3rd 2008 10:03PM

I already have shares--but I bought them almost 10 years ago so it has a long way to go before I lose money.....but still, I knew I should've cashed in when it popped up to $78/share earlier this year...oh well. that's why stocks are a long term investment--to ride the waves of these little hiccups...

A Pissed-off English Gamer @ Oct 4th 2008 1:03PM

This is hardly a small hiccup; it'll be a while before your stocks approach the value they held a year ago.

DEEZNUTZ @ Oct 3rd 2008 4:53PM

As long as their cash pool keeps growing, it doesn't hurt them much. Cash, and lots of it will weather any storm in the market or economy.

Titanium_Orchid @ Oct 3rd 2008 7:36PM

unless the value of the cash plummets, and becomes as useful as a post-it note

Gun Barrier @ Oct 3rd 2008 4:56PM

ouch

Nihiloz @ Oct 3rd 2008 4:57PM

HLEP!

CaramelZappa @ Oct 3rd 2008 4:57PM

The problem is that the DS doesn't need a hardware revamp, it's still selling pretty well. As far as I see it the DSi will just alienate the tons of people who already have DS's. Now that the DSi is their new platform Nintendo will probably be making their best (and probably only) new DS games on the DSi using both touchscreens. I have a DS, and if I find out something I've been dreaming for like a pikmin or smash bros game for the DS is going to come out, and be DSi only, I'm gonna be pissed, and I'm not going to pay $170+35 just to play that game. The original DS platform is great, and Nintendo should continue to support it instead of alienating their huge install base.

TFoK (Naked Peach Defense Force) @ Oct 3rd 2008 5:07PM

"using both touchscreens."

DSi only has a single touchscreen.

Derick @ Oct 3rd 2008 5:10PM

Hopefully the DSi will mean a price drop for DS Lite.

I'm still luggin around a phat DS...

wouldnt mind the new one, but I cant justify its price yet.

Gun Barrier @ Oct 3rd 2008 5:23PM

DSI does have 2 touch screens.

Superstar90 @ Oct 3rd 2008 5:41PM

actually of doesn't
It does have more ram though, hopefully we can have a nice snes emu

Orion @ Oct 3rd 2008 6:12PM

Yep, it has two touch screens unlike the older DS systems.

That's why a lot of Nintendo fans are bitching about the lack of a real hardware update. If they're going to go ahead and update the hardware to have two cameras, an extra touchscreen, and bigger screens, why didn't they just revamp the graphics as well and make a new console that was backwards compatible. I think that's what most people are angry about. The DS is starting to get old (considering how long Nintendo's handhelds usually last). It's honestly time to smell the coffee and realize they are going to be left in the dust here soon by Apple and at least in Japan, Sony, if they don't get their act together.

I think Nintendo (as much as I love them) is very much like Sony. Nintendo thinks they have the handheld market in the bag no matter what they pull, just as Sony thought they had consoles in the bag for good because they had such a large user base. One trip up has shown that can all change quite quickly. Nintendo needs to stop pretending it has no competition by not "competing with anyone".

TFoK (Naked Peach Defense Force) @ Oct 3rd 2008 6:32PM

Uh, no it doesn't. Do your research folks.

TFoK (Naked Peach Defense Force) @ Oct 3rd 2008 6:41PM

Turns out a translation error across the interwebz caused many news outlets to misinterpret 'larger screens' as 'dual touch screens' - there's only one.

bm @ Oct 3rd 2008 7:06PM

"Nintendo thinks they have the handheld market in the bag no matter what they pull,"

I don't think so. Remember when someone at Nintendo admitted later on that they thought that if the DS had failed, Nintendo would've been doomed?

TheOverlord#2 @ Oct 3rd 2008 7:37PM

The reason they took out backwards compatibility is because of the DSi Shop(Channel). If they can put full DS games like Brain Age 1 & 2 on the service, then they can obviously sell GB games. They'll probably make a DSi Shop part be called "Virtual Handheld."

Or, just keep your DS(or better yet, buy a GBASP/Micro)

Dirty @ Oct 3rd 2008 4:59PM

If anything I blame nintendo for releasing devices that print money. Such a irresponsible action will only continue to destabilize the market and increase inflation.

Marty @ Oct 3rd 2008 5:12PM

Microsoft's stock has been doing rather well through all this mess. Nintendo and Sony however... eh, not so much. Sony's lost 25% of its worth over the last month.

Ayrkain @ Oct 3rd 2008 5:52PM

That's because they're in the middle of a share repurchasing program, not because they aren't getting hit by this. They should be doing a lot better than they are right now, but instead they're just keeping their heads above water. Even Ballmer said so.

Marty @ Oct 3rd 2008 7:03PM

Well I didn't say why their stock is holding. I just said it's holding. Why is everyone so disagreeable today?

spyyder @ Oct 4th 2008 2:13AM

Mostly because you sound like a blathering fool in your posts.

In A World (XBL) @ Oct 3rd 2008 5:31PM

It's-a the economy-a, stupid-a! ~ Mario

Vegeta (aka Ska Oreo) @ Oct 3rd 2008 9:38PM

Italian stereotypes are awesome!!!

Mr Khan @ Oct 3rd 2008 6:05PM

Based on the nature of the DSi, i really don't think it would have helped their stocks. Iwata himself said that the DSi is there because they think the DS is going to start falling off relatively soon.

It's an admission that they lack confidence in the DS, which could be a bad thing for investors.

TheOverlord#2 @ Oct 3rd 2008 6:11PM

That's how you call the Elite Beat Agents!
HHHLLLLEEEEEPPPPP!!!

gameplayFanBoy @ Oct 3rd 2008 6:22PM

What goes up, must go down.

C lab Cpn @ Oct 3rd 2008 7:05PM

As a Sony and Nintendo stockholder all I have to say is...

Well, f*** me.

Gilbert Tang @ Oct 3rd 2008 7:19PM

The announcement didn't do anything for my personal stock in Nintendo, either.

Paviel @ Oct 3rd 2008 9:27PM

A rising tide lifts all boats.

And a tsunami capsizes all boats.

FSK405K @ Oct 4th 2008 1:05AM

You do realize that falling prices now is a GOOD thing, right? It means you can get more stock for the same investment, and laugh at the folks once the price starts to soar once they put out their 2008 Q4 report, and goes moon-bound once they release their 2009 Q1.

Ridgecity @ Oct 4th 2008 2:03AM

This stuff is just weird. Did you hear that Google stock dropped $200 2 minutes before closing a couple days ago and went back to $400 after closing? "a glitch in the system" was the cause and all the freeloaders had to give the stock back the day after... Apple stock has dropped and the "insiders are saying it's moment to sell low before it drops more" really? The biggest companies are doing bad?

This reminds me of that Dan Ackroid and Eddie Murphy movie when they set a tramp in wall Street and became rich...