Nintendo shares slump as games pipeline disappoints market

Nintendo shares slump as games pipeline disappoints market TOKYO, June 10 : Nintendo's shares fell 7.5 per cent on Wednesday after the company's Nintendo Direct presentation of forthcoming games lacked titles from top franchises such as "Super Mario". The Kyoto-based company's stock price has been hammered by concerns over a lack of high-profile games to build momentum for the Switch 2 gaming device. The shares are down around a third year-to-date. The lack of a "mainline 3D Mario" for this year's holiday shopping season is "commercially meaningful", Jefferies analyst Atul Goyal wrote in a client note. The Switch 2 launched last June with titles including "Mario Kart World" and later "Donkey Kong Bananza". "Year 2 now enters the holiday window without a franchise title of comparable pull," Goyal wrote. Last month Nintendo hiked Switch 2 prices as it grapples with a memory chip price boom, which is also seen as a risk to sales momentum due to its price-sensitive consumer base.