Nintendo Stock Surged Temporarily on False 3DS Release Info
Or maybe investors really were excited about the Super Mario Bros. anniversary DSi LL.
Check out Nintendo's stock price fluctuations yesterday:
The bottom axis shows the time. The right axis shows the stock price.
Notice how the stock falls off a cliff at just before 15:00? This drop came following CEO Satoru Iwata's announcement at the Nintendo Conference 2010 press briefing of the 3DS's February release and ¥25,000 price point.
More mysterious is that sudden spike at the 14:30 mark. We'll let Bloomberg explain this one. Apparently, there was some misinformation amongst investors that Iwata had announced an October 28 release date and ¥18,000 price point for the 3DS. This sent the stock skyrocketing temporarily until Iwata made the real announcement.
That October 28 date and ¥18,000 price should sound familiar. That's the release information for the Super Mario Bros anniversary DSi LL system.
At the end of a busy day of activity, Nintendo's stock price recorded a total ¥890, or 3.7 percent, drop from the previous day to ¥23,010.
[Seen at My Game Flash]