Nintendo stock falls dramatically following 3DS price move

Though yesterday’s decision to slash the price of the 3DS is no doubt good news for the machine’s prospects, it has proved disastrous for Nintendo itself.

Bloomberg reports that shares in the company fell by a huge 21 per cent in Japan Osaka Securities Exchange yesterday. That’s an all-time record high for a single day drop since records began in 1990.

Nintendo also cut its full year financial forecast by 80 per cent. In 2011 its stock value has dropped by a total of 40 per cent.

As a result it is speculated that former Nintendo president Hiroshi Yamauchi could have seen his personal fortune dwindle by as much as $540m, owing to his ownership of ten per cent of the company’s shares.

However, should the system receive as sizable a sales boost as expected as a result of the price cut then Nintendo’s stock fortunes could quite easily be quickly reversed.