Nintendo shares slide 10% as momentum fears grow
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Nintendo shares slid 10% on Wednesday as investors fretted about momentum for its flagship Switch 2 gaming device. The Kyoto-based gaming company on Tuesday reported robust sales for the Switch 2 during the year-end shopping season, though the system is viewed as lacking high-profile game titles to drive demand. The "Super Mario" maker maintained its annual earnings and hardware forecasts, which were viewed as having disappointed the market. "Results are good with (the Switch 2) breaking records" but "not great," Jefferies analyst Atul Goyal wrote in a client note. Investor enthusiasm over the prospects for a successor to the wildly popular Switch helped push shares to a record high last year, but they have been sliding since November. Live Events Early momentum for the Switch 2, which launched in June, is viewed as critical for building a user base to ensure the long-term strength of the system. ...