Jim Sterling: Nintendo Addresses Crunch, Takes Time With Animal Crossing, Upsets Shareholders In The Process

[Jedi]

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.

www.cnet.com

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.