Nintendo stock dips

Down 21 per cent after massive loss.

Yesterday Nintendo announced a rather sizeable loss while cutting the profits forecasts for the full year by 82 per cent. The reaction from the market was swift and harsh as the Nintendo stock plummeted a record 21 per cent in a single day of trading, according to Bloomberg. Nintendo's biggest shareholder and legend Hiroshi Yamauchi saw his personal shares lose a breathtaking $500 million in a single day.

While sales for Nintendo 3DS haven't been what Nintendo had hoped sales for Wii have slowed down, and meanwhile the company is spending a lot of resources on 3DS and Wii U research and development.