NTDOY - Where Will Nintendo Be in 5 Years?
Nintendo 's (OTC: NTDOY) stock shed more than a quarter of its value this year as investors fretted over a post-pandemic slowdown, competition from newer consoles, and the chip shortage's impact on its shipments. Some investors also expected Nintendo to launch a new Switch console, instead of an upgraded OLED model this October, to stay competitive.
Nintendo's weak first-quarter report on Aug. 5, which featured a 10% year-over-year revenue decline and a 13% drop in net profit, exacerbated that sell-off -- and a rare decision to repurchase up to 100 billion yen ($910 million) in shares (1.5% of its outstanding shares) couldn't stop the bleeding.
Image source: Nintendo.
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Where Will Nintendo Be in 5 Years?