Crypto Stocks Surge Amid Market Boom

Crypto stocks are on fire as Bitcoin hits all-time highs. One under-the-radar company is leading the charge, managing $2.1 billion in client assets and seeing record trading volumes. With crypto adoption skyrocketing, this could be a game-changing opportunity.

Nintendo Switch 2 Fails To Stir Excitement In Investors, Gaming Giant's Shares Drop 5% In Tokyo

Kaustubh Bagalkote
January 17, 2025

Nintendo Co., Ltd. shares dropped 5.03% to 9,108 yen ($58.74) in Tokyo trading Friday, marking a sharp reversal from Thursday’s 52-week high, as investors digested details of the company’s Nintendo Switch 2 announcement.

What Happened: The gaming giant revealed that its next-generation console will launch in 2025, with backward compatibility for most original Switch games. The announcement follows the remarkable success of its predecessor, which has sold over 125 million units since its 2017 debut.

Thursday initially saw a positive market reaction, with Nintendo’s ADR (OTC:NTDOY) climbing 1.4% to $15.44 on U.S. markets, reaching a new 52-week high. However, sentiment shifted as investors appeared to focus on the extended timeline to release.

The company plans to showcase the new console at “Nintendo Switch 2 Experience” events across major cities, starting in April. These hands-on demonstrations will span North America, Europe, Asia, and Oceania, indicating a significant global marketing push.

See Also: Jim Cramer Questions Nvidia’s Trading Pattern Amid Positive TSMC Earnings And Biden’s China Export Regulations

Why It Matters: “Nintendo Switch 2 plays Nintendo Switch 2 exclusive games, as well as both physical and digital Nintendo Switch games,” the company stated in its press release, noting that “certain Nintendo Switch games may not be supported or fully compatible.”

More details about the console will be revealed in a Nintendo Direct presentation scheduled for Apr. 2,. The original Switch’s success was driven by popular exclusive titles like The Legend of Zelda: Breath of the Wild and Animal Crossing: New Horizons, setting high expectations for the new platform’s game lineup.

The stock’s volatility reflects both optimism about Nintendo’s market position and concerns about the timeline. The shares have gained 14.79% over the past year, demonstrating long-term investor confidence in the company’s strategic direction despite near-term fluctuations.

Read Next:

  • Tesla’s Drop Against Modestly Lower Nasdaq Comes As Investors Weigh Elon Musk’s $40-50 Billion TikTok Deal, Gary Black Says TSLA Share Swap Unlikely Due To This Upcoming Milestone

Image Via Shutterstock

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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