Nintendo Stock Rout Costs Billionaire Yamauchi $300 Million in Single Day

Yesterday after Nintendo cut the price of it's new handheld the 3DS to $169 it's largest shareholder and previous Co.President Hiroshi Yamauchi has lost over $300 million in a single day. Read on to find out more.

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a_bro2549d ago

that must've hurt for him.

GameOn2548d ago

Im pretty sure him and his family wont starve.

Micro_Sony2548d ago

Glad to see Nintendo getting some humble pie.

The reason why the Wii sold so good was because of Sony and MS ignoring the Wii becuase it had last gen tech and forgot that the casuals out number the hardcore.

I dont see this same success for the Wii U because Sony (Move) and MS (Kinect) have tapped into the Wii market and both consoles Will be cheaper than the Wii U - sure the Mario and Zelda name sells consoles but if you been watching the news the debit crisis in the USA is bond to hit the global world hard and moms will go for cheaper and not popular.

I can also see the same effect happening to the PS Vita - yes we hardcore gamer will buy it day one but mom will have a choice of the cheaper 3DS or the more powerful but expensive Vita.

Sony will have reconsider the price after 3 month if the Vita is not selling like they expected.

N4g_null2548d ago

Problem is cheaper will still be the wii plus it is more Likly wiis will be passed down to your kids. Blu ray players maybe not. The xbox deaths or claims are not helping.

miyamoto2548d ago

Those are really negative stuff for Nintendo and Sony but I agree. It is really a tough time for the whole video games entertainment industry.

Sony better make the PSVita's overall value proposition more compelling than what it is right now. Jam pack it with value & worthwhile functionality.

meganick2548d ago

Even after that loss, the dude's still a billionaire (in U.S. currency, that is).

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metsgaming2549d ago

So what its not like hes going to sell his stock, just hold onto it the stock will go up. Best time to buy nintendo stock if your interested

pedrami912549d ago (Edited 2549d ago )

And im sure you know how the stock market works ?

xX-StolenSoul-Xx2549d ago

he's actually right, with price drops of 3ds and Wii u coming out in a year it will go up.

metsgaming2549d ago (Edited 2549d ago )

on paper he lost 300 million. You dont lose money until you sell. Its like the current recession you would have lost alot of money when the dow was like 8000 but if you waited the markets went back up and are now i think over 12000 and you would have made the money back. Its a very basic concept when compared to other things like short selling etc.
There is no real reason that nintendo stock went down so much other then people being spooked.

Jihaad_cpt2548d ago

it didnt cost him anything the assert just devalued. It will probably reegain the losses with time once the market stabilises, whenever that may be

f7897902548d ago

Do you? Now is the time to buy. Then sell it when the Wii U launches. No telling how the stock will perform after the results for that launch come in.

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xtremexx2548d ago

@metsb you did it wrong, it's OVER 9000!!!!!!!!!!!!!

williamtimothy2549d ago (Edited 2549d ago )

That is if the Wii U sells well (i do hope it will). Also @metsb FYI $300 million is a ton of money not to mention he lost it in ONE day! Also I wrote this article so thanks for the comments guys!

Shok2549d ago

I agree with StolenSoul.

Despite the recent crash, it would smart to invest into Nintendo. The crash happened with the $250 3DS that had no games (not to mention the Wii hasn't had much this year.) It's going the be $170 now and it has some the games we've been waiting for out already, with Starfox and Kid Icarus and Mario 3DS coming soon. The 3DS is going to skyrocket now.

Nintendo is learning from their mistakes and making sure the Wii U doesn't end up like the 3DS, and with the new controller, casuals will go crazy over it. I expect the Wii U to be a huge success.

Knushwood Butt2548d ago

Starfox 64 wasn't all that in the first place.

The port just bombed in Japan. I don't see it doing that well elsewhere. Lack of other new games will help though.

n4f2547d ago

i saw that sales had double in japan cause of starfox

Knushwood Butt2547d ago

Sales of the 3DS saw a boost because they released a new red colour 3DS.

williamtimothy2549d ago

I agree now is a good time to invest in Nintendo but it is the biggest drop in their stock since 1990 and $300 million is a ton to lose much more in one day and that's why I wrote the article on it

grailly2548d ago

I thought it was a good time to invest after the 3DS and the japan disaster, turns out I was wrong and lost some money. hopefully it will go back up

N4g_null2548d ago

It's not what you loose in a day it's what you do over years. It can be seen as an investment like buying a factory. That's lost money yet it dispose to make some thing happen. This price reduction is a signal to 3rd parties and the people at nintendo internally. It seems nintendo does really fire people they will simply make you quit by not paying you lol. Awesome!

Also he is a billionaire and this lost should be compared with others like degas and sonys. Also we are about to see nintendo get serious about online publishing and social media yet not in a conventional way.

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