Nintendo's investors were unimpressed with the Switch

The gaming company's stock price dipped around $10 following their big Switch reveal on Friday.

Daniel Van Boom Senior Writer
Daniel Van Boom is an award-winning Senior Writer based in Sydney, Australia. Daniel Van Boom covers cryptocurrency, NFTs, culture and global issues. When not writing, Daniel Van Boom practices Brazilian Jiu-Jitsu, reads as much as he can, and speaks about himself in the third person.
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Daniel Van Boom

At 1 p.m. on Friday, Nintendo gave the world an in-depth look at its new home console, the Switch. Less than an hour and a half later, the company's stock dropped by a whopping 6 percent.

A picture is worth a thousand words, so check out this grim story:

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Investors, it seems, aren't too excited about a console/handheld hybrid. Nintendo's Tokyo Stock Exchange stock price fell from 24,935 yen (about $217) at 1 p.m., before the conference started, to 23,750 yen (about $207) less than 90 minutes later. That's a loss of 1,185 yen, or around $10, per stock.

But the story isn't so bad for Nintendo. This time last year, its stock was worth 14,825 yen, or about $129. The company's stock hit a yearly high in late July of 31,770 yen (about $277) following the Pokemon Go phenomenon. But it plummeted 10,000 yen, or about $87, once everyone realised Nintendo didn't actually make the game.

Nintendo Switch: All the games you'll get at launch (and beyond)

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The Switch, it was announced, will be released worldwide on 3 March. It'll retail for $300, AU$470 and £280, and yes, The Legend of Zelda: Breath of the Wild will be a launch title. Find out more about the Switch here.

We'll see then how consumers, rather than investors, react to the Switch. Nintendo's 2006 console, the Wii, was a hit, selling over 100 million units. Its successor, the Wii U, was less of a success, with just under 14 million in console sales.