Nintendo shares sink for third day running

Shares drop an additional 3.3%

Nintendo's market value deepened by a further 3.3% today as trading closed in Japan.


The Japanese platform holder's stock started the week off strongly by gaining three percent, bolstered by anticipation of a number of exciting reveals at its E3 2012 press conference. However, Nintendo's conference left investors unsure about the new direction of the company.

Following the conference on Tuesday, Nintendo's stock fell 1.8 per cent in Tokyo on Wednesday, with an additional 0.99% drop the following day. Overall Nintendo shares have contracted by almost 15 per cent since January this year.

"The device has to win support from within the family," Nintendo president Satoru Iwata said this week. "We have to show the benefits of the Wii U device from different angles in order to reach the mother, the father and the children."

Nintendo's Wii U has been getting the cold shoulder from both analysts and respected industry figures. Earlier this week Sterne Agee analysts Arvind Bhatia and Brett Strauser said the Wii U lacks a killer app.

On Friday Lionhead founder Peter Molyneux said the Wii U's dual screen format might be too demanding for players and unsuitable for core, twitch-based games.