Nintendo’s stock price is on the rebound after stock prices fell drastically upon the announcement of Nintendo’s first smartphone app, Miitomo. Investors didn’t react well to the new social conversation-starter that Nintendo unveiled, with stock prices falling considerably after the announcement was made. Now it appears as though confidence is returning, as the stock is on the rebound.
The dip in stock was likely caused not by the reveal of Miitomo itself, but by the announcement of Nintendo’s entry into the smartphone market being delayed until Q1 2016, whereas investors expected Nintendo to announce and reveal the app as ready to go for 2015. Of course, we know Nintendo’s new president Tatsumi Kimishima felt this wasn’t enough time to prep entry into a new market and so the project was shelved for release until next year.
Despite this, Nintendo’s stock is recoveringd from the initial announcement and delay quite nicely.
