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Animal Crossing: New Horizons delay cuts $1B from Nintendo stock

Tom Nook wouldn't be pleased about the E3 announcement's reported impact on the Switch maker.

Animal Crossing: New Horizons' delay apparently had a big impact on Nintendo's stock market value. 
Screenshot by Shelby Brown/CNET

 Nintendo's stock market value reportedly dropped more than $1 billion on Wednesday after the company revealed that Animal Crossing: New Horizons won't come out until March 2020. Its Nintendo Direct livestream at E3 2019 also failed to address game streaming trends or hint at new Switch models.

Shares in Nintendo closed 3.5% lower in Tokyo, according to the Financial Times, following the Tuesday announcement suggesting that the company's holiday 2019 offering will be slim.

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Google and Microsoft used E3 to push their gaming streaming plans, but Nintendo focused heavily on its upcoming games.

One analyst wondered why the market didn't react favorably to Nintendo's surprise announcement that The Legend of Zelda: Breath of the Wild, its beloved 2017 Switch launch game, is getting a sequel.

Nintendo didn't immediately respond to a request for comment.