Nintendo stock price tumbles despite higher forecasts. Here’s why

Shares of Nintendo Co. (T: 7954) fell 4.5% today as stay-at-home stocks took a beating amid the renowned optimism that a regulatory-approved vaccine will be available soon.  Fundamental analysis: Higher forecast published Last week, Nintendo announced it aims to ship 24 million of its Switch video game consoles through March 2021, an upgrade from its previous forecast of 19 million. Nintendo also boosted its operating profit outlook by 50% to 450 billion yen ($4.3 billion) thanks to certain video games such as “Animal Crossing: New Horizons” which have been attracting new gamers to the Switch console. However, the Japanese company