Nintendo stock drop 10 percent

Yesterday’s stock figures prove that life’s not fair. Sometimes you can be produce the best selling consoles in the world and your stocks will still drop.

Last week Nintendo announced it’s sales figures for the last nine months and things were definitely pretty rosy in the Wii and DS camp.

We all remember the hardship that came with trying to get your hands on a Wii in the weeks and even months coming up to Christmas.

This was closely followed by a distinct shortage of DS Lites. Couldn’t get them for love nor money.

Thursday saw the Japanese company announce that its nine-month sales revenue (ending on the 31st of December) had nearly doubled. Revenue was up from $6.7 billion to $12.4 billion in the same period in 2007.

Net income over the same period was $2.4 billion ; double that of 2006.

Despite the 24 million DS Lites the company shifted in the last nine months, yesterday saw Nintendo shares drop by 10 percent.

Now, I’m no stockbroker [first mathematician, now stockbroker ; what is it that you do for us ? –Ed] and I’m sure you don’t need us to tell you, but that is a significant drop.

Read the full story on Reuters as well as some rather interesting ideas on the reason for this drop and why the stockmarket is so cruel.