Nintendo’s Stock Drops After Underwhelming Switch 2 Reveal
Shares of the Japanese gaming giant fall by 7.2 percent as fans express disappointment over the Switch 2 teaser.
Nintendo’s shares took a significant hit following the highly anticipated reveal of its next-generation console, the Switch 2, leaving some fans unimpressed. On Friday, the company’s stock price plummeted by as much as 7.2 percent after a teaser video for the new console suggested it would be quite similar to the wildly successful original Switch.
By the afternoon, the stock price had recovered slightly, with a decrease of around 4.2 percent at 4 p.m. local time.
“Nintendo played it safe. Switch 2 looks underwhelming at best, and at worst, it's just a recycled version of the same old thing,” said gaming YouTuber TwoQuickOnes on X (formerly Twitter).
While the teaser didn’t reveal any technical specifications, it showcased a console that resembled the original Switch closely, albeit with a larger screen and updated controllers that snap on rather than sliding into place as on the first model. The two-minute video also teased a new edition of the popular Mario Kart series.
Nintendo announced that further details about the Switch 2 would be unveiled at a Nintendo Direct event scheduled for April 2.
Released in 2017, the Nintendo Switch has sold over 146 million units worldwide, making it the third-best-selling gaming console of all time, behind Sony's PlayStation 2 and Nintendo’s own DS. The Switch’s success helped Nintendo regain profitability after the poor reception of the Wii U.