Nintendo stock hits two year low
ADR share price continues fall over concern for 3DS demand
Nintendo's stock prices in America have fallen by 12 per cent since the beginning of April, as worries over demand for the 3DS and the effects of the Japanese earthquake upset investors.
Nintendo's ADR stock (American depositary receipt - a representation of shares in foreign companies) closed at $30.10 on Friday, the lowest figures since late 2009.
Prior to the 3DS launch in Japan stock stood at $38.29, but despite an apparently strong launch sales of the new portable have quickly dropped away in the console's homeland. As a result the 3DS was outsold by its aging rival the PSP last week in Japan.
Although Nintendo has portrayed the US and European launches as successful no sales figures have been released for the former - just an announcement that the 3DS broke the one-day sales record for a portable console.
In Europe the system sold 303,000 units in its first two days, with 113,000 in the UK and 50,000 in Germany.
The UK total is significantly below the 140,000 pre-order figure quoted prior to launch. 3DS titles have also made little impact in the UK charts, with no titles in the top 20 this week.
Nintendo had originally predicted 4 million sales worldwide for the system by the end of March, but this figure now looks in doubt. The goal of 1.5 million sales in Japan in the first month has already been missed.
The earthquake disaster in Japan appears not to be a factor, with no Nintendo factories damaged and no reports of stock problems for the console.
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