NTDOY - Can Nintendo Stock Make a Turnaround to Close Out 2021?
Nintendo (OTC: NTDOY) was one of the most popular stocks of 2020. Propelled by the COVID-19 lockdowns and the hit title Animal Crossing: New Horizons , the Japanese video game company saw sales of its Switch platform soar last year to 28.8 million units across the globe.
Demand has slowed in 2021 with the company guiding for 25.5 million Switch (and Switch Lite) sales this fiscal year, which ends in March 2022. This has likely been a big reason for the stock's 25% decline year to date.
But Nintendo has some new products and partnerships coming down the pipeline to go along with a big holiday season that should help the company sustain its profitability. Does that mean Nintendo stock is headed for a turnaround to close out 2021?
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Can Nintendo Stock Make a Turnaround to Close Out 2021?