Nintendo shares plummet at Tokyo Stock Exchange

Nintendo's stock has taken a hit and some would say the dominos are starting to fall after a financial services group reduces its recommendation, Bloomberg reports.

This news marks the biggest decline in Nintendo stock since October 29th of last year, coming down 7.6%.

SMBC Nikko Securities Inc., the aforementioned financial services group, has not only lowered its recommendation on Nintendo stock but has labelled their stock 'underperforming', a step down from its previous neutral status.

The stock might have taken a tumble, but we'll see a much clearer picture come February when Nintendo are set to announce their quarterly earnings.

The Japanese company looks to reveal its upcoming video console – the Nintendo NX – later this year and they might just be banking on a huge fan response.

However that might not be an easy task, given the secrecy surrounding the NX. Nintendo have kept the majority of details for their new console very much under wraps, not even giving fans a teaser as to what the console will look like – which seems strange as fan hype is a tool that Microsoft and Sony seemingly use to their advantage.

[Bloomberg]