At Nintendo headquarters in Kyoto, there should be celebrations.
Switch 2 has sold 20 million units since its release last June, becoming the company¡¯s fastest-selling console of all time. It also has the top-grossing film of the year, with ¡°The Super Mario Galaxy Movie¡± poised to cross $1 billion at the global box office.
Yet not all is well: Nintendo¡¯s share price has taken a pummeling, falling by half since August. That¡¯s one of the worst declines for the stock on record, comparable with the 2008 financial crisis or the 2011 earthquake and tsunami. And while those occasions involved broader market meltdowns, this time Nintendo is sliding even as Japanese indexes hit one record high after another.
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