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Discussion Nintendo share/stock history, Analysis, and how it could relate to the Switch 2

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Shareholder Chad

FORMER Nintendo Shareholder
Disclaimers, Qualifiers, and Context: First off, I am a Daytrader/Investor on Wall street. I am not rich but I make a comfortable living for myself solely on my ability to forecast stock movements and manage odds based strategies. One of my passions are Japanese based companies like Nintendo, Sony, Hitachi, Toyota, and Toshiba. Specifically Nintendo and Hitachi. The following information in this thread is merely my opinion and not only could be wrong but also will be changed as new data presents itself. This is not financial advice and I am not advocating anyone buy or sell any stock without talking to a licensed professional in their area. The reason for this thread is simply to educate, illuminate, and present my thesis as to what recent stock moves could mean for a Switch 2 announcement and release based on my experiences. Many advocated for a thread based on Stock from the "Future Nintendo Hardware tech speculation" thread. I will present a TLDR version with the bulletpoints and funfacts at the bottom.

Introduction:

In 1962, Nintendo went public on the Kyoto Stock Exchange under Nintendo & co., LTD. Ever since then, investors could buy a "piece" or "fraction" of the company called stock/shares. Normally for people outside of Japan, It is impossible to invest with them without either being a citizen, Permanent resident or being married to a citizen of Japanese descent. This continues today but thanks to ADR's (American Depositary Receipts) such as NTDOY or NTDOF, We can trade/own TSE (Tokyo Stock Exchange) companies. However our version (NTDOY) is weighted usually at an 8 to 1 ratio, Meaning you need 8 shares in NTDOY to equal one stock of Nintendo on the TSE.

The difference between NTDOY and NTDOF is the weighted ratio and volume. NTDOY is weighted less and traded more per day (thus more "volume"). NTDOF I believe is 1:1 but less volume is bad for anyone not looking to hold the stock for years or till retirement. The tricky part is, Nintendo does not sponsor these two ADR's and thus are NOT involved with them. This is a 3rd party buying on the TSE and reselling on the NYSE (New York Stock Exchange) Ebay like. Stock movements between Nintendo on the TSE vs. the ADR on the NYSE are usually mirrored so we will look at graphs based on NTDOY for simplicity.

Stock movements with events noted:


Nintendo-stock-history.png



So here we have a chart of NTDOY from 2005 to 2023 with labels on when certain events happened. Each red or green "line" represents the stock movement for one weeks time via a "Candle" but it basically can be looked at as a Line graph. The thesis I made mention of in the Future Nintendo Hardware thread is that insider traders have caught wind of a potential Switch 2 announcement being imminent and based on my Business inner circle, Many have heard and gearing up for a late May 2024 release. Yes, They can be wrong but the odds are 65/35 in their favor. Ill take that.

This is reflected in the chart here. The Wii, 3DS, Smartphone plans, Switch, and even the SMB movie all had major run ups in the stock shortly before the official announcements. The Wii-U did not and while I was a mere rookie in this game at the time, I do remember project cafe rumors being mocked and belittled before even the official announcement. Everyone except Nintendo knew that was going to be a dumpster fire and tech investors were very weary of investing due to 2008 GFC and the horrendous 3DS sales. I'll call this an anomaly and throw it out due to the context of the time. (Dark times). Lets zoom in on each announcement and take a closer look.

Wii-announcement-beforehand.png










The Wii announcement. As you can see, The candles here have long "wicks" outside of the main bar. This just means the stock dipped very low or very high and returned to the trend norm that same week. These happens for all sorts of unimportant reasons so I'm not going to waste words on it. From 95 to 05, Nintendo was in a major downtrend in their stock. a few months before the official announcement of the Wii, it broke that downtrend and started a new trend upwards even though we can see a small little pullback before the official announcement. Somebody caught wind of something here. I was not actively trading in 2004 so I have very little to offer in terms of context. Lets move to the 3DS.




3-DS-announcement-beforehand.png















Would you look at that? Nintendo's stock breaks a downtrending channel 6 months or so before the announcement of the 3DS (It was "revealed" at e3 fyi) through flat sideways action then goes parabolic 3 months before the announcement. Keep this one in mind as we move forward folks. I really see a ton of similarities between this stock action and our current day stock action. Also, there is a belief that the Wii-U killed Nintendo's stock during this time period of 2010-2015 but I truely believe it was the 3DS. The immediate pivot on price and horrendous first months sales data burned everyone who bought Nintendo stock during the lead up to the 3DS (Including me). As shareholders, We are vengeful, prideful, and do not forget easily when a company betrays us. This is reflected in the 2010-2015 period where the stock flatlined.

I'm not going to zoom in on the Wii-U event because its basically straight down then flat. No rises for the announcement nor release. Big money (Rich people like Warren Buffet), and shareholders were OVER Nintendo. Its the one event where they did not see a rise before the announcement. Good reasoning aside, Its still the one piece of data against my theory and is worth mentioning. Lets look at Switch.




Switch-before-announcement.png

We have two product events that fit my thesis of note with this one (And one terrible event. RIP Iwata, My favorite CEO. Even got to shake his hand once). First is the Smartphone game plans being announced. I heard a rumor about this right before the stock went upwards above the gray line. I bought stock in the middle of it and it was my first major win with Nintendo. Another representation of a huge stock run up before a major announcement. Same goes with Switch. Once I heard of their rumored plan to combine both Handheld and console divisions, I was convinced this was going to be BIG so I made Nintendo my #1 stock holding and started investing with Nvidia shortly after the switch release (Woooo weee boy). Lets now take a look at present day and compare/contrast with what we just looked over.









Switch-2-before-announcement-maybe.png


Boom. Do I even need to explain this? Its so perfect. Once again, Nintendo's stock breaks a longterm trend right before we are expecting a Switch 2 announcement. Not only that, It looks extremely similar to the 3DS announcement graph above. This is all explained by insider trading. Every company has it and it even extends to government officials in both USA and JPN. I started hearing all kinds of crap from Wallstreet before Gamescom then Natedrake mentioned what he heard from those on the floor of gamescom about March. Shortly after, I start hearing about May 2024. I want to be VERY clear. I am not an insider. I am just plugged in with wall street happenings. Frontrunning tech announcements is a big part of being an investor and we aim to predict them as close as we can to capture what you see here. That huge run up out of a channel (btw, This happened directly after gamescom)

To further explain, Most investors do not pile into a clear downtrending stock unless they are VERY sure of a reason, announcement, w/e that will break it and that happening being VERY close. "Duh its going to get announced soon, Whats this have to do with release?" Well, Glad you asked. The release often brings its own run AFTER (not before like the announcement) the event. So investors ideally want to frontrun the announcement -> Take profit aka: "Buy the rumor, Sell the news" -> Rebuy just before release. The first part of this plan is easy guaranteed money made...only if you don't screw up when the announcement IS. Your almost forced to hold your stock through possible further downside hurting your portfolio as well as incurring heavy opportunity cost (IE: Capital is tied up in Nintendo incurring losses when it can be used for other opportunities). The announcement approach is very important and allows you to follow through with Part 2 and 3. Investors do not do this without heavy thought and evaluation. We are convinced of Jan/Feb teaser, March reveal, and Late may release. Anything deviating from this will be considered a failure (and we do fail sometimes) of research and prediction.


Stock future:


2024-prediction-for-Nintendo-stock.png

This is already a massive post so Ill be brief here since most do not care to invest with Nintendo. Bottomline, I believe the announcement move as made and we are about to enter a "Take profit" pullback stage. This could start happening by March 2024 and end by May or June 2024.


The green line is my primary trade plan. I will likely take profit the first week of January while still maintaining my core holdings that never get traded. The red line you see here is something I am very worried about not because of anything Switch 2 related but overall worldwide market headwinds (War in Israel/Ukraine, Credit crisis looming, etc.). At any point, The rug could be pulled out from underneath any stock in the USA/JPN but that is the risk you take in wall street.

Oh by the way. Not to toot my own horn but I did predict this big move up we see here when I first posted a chart here back in November.
https://famiboards.com/threads/futu...ts-before-commenting.55/page-1993#post-884655



TLDR: Everybody's favorite section

  • Through my professional trading life, I have a thesis that stocks undergo parabolic upward movements shortly before a major product or event announcement. This is explained through insider trading that happens everywhere. The Nintendo Wii, 3DS, Switch, Smartphone collaboration, and film collaboration all represent this and we just had the same thing happen in present day indicating we will see a Switch 2 announcement in the next 1-3 months.
  • I am not an insider but I heard May 2024 release through my circle of business contacts and see follow through with stock action supporting the rumor.
  • Nintendo's stock has undergone a massive rise since Gamescom and I believe that wasn't just because of the tech that was reported there. Jan/Feb teaser tweet, March reveal, May release.
  • I believe Nintendo's stock may go through a fall soon and the pre-announcement buying event is largely exhausted
  • Everything posted here is just opinion and not financial advice. I also avoid any personal contacts with Nintendo employees like the plague.
  • "Just remember, We are all on the same team here. If you buy Nintendo products, We are friends" - Me
  • The Nintendo Switch 2 is shareholder approved. Lets get it done.


Q&A: Will update this section with any common questions

Q: Holy shit, I thought you were just a parody account or LARPing?

Nope. I am the real deal. I own a significant amount of Nintendo shares as a means of supporting one of my favorite companies due to the products they make for everyone.

Q: How do I get started buying or selling Nintendo stock?

First off, I do not recommend getting into stocks. It is extremely hard and dangerous but if you insist: Make an account with a broker such as Fidelity, Schwab, TD Ameritrade and for the love of all that is holy,
PLEASE do your research and ask professionals in your area for advice/instruction on buying stock. It is full of risk. I will not link it but googling "Investopedia" has a wealth of information to help. (Mods: Feel free to remove this part if needed)

Q: Doesn't all stocks just simply go up or follow the worldwide economic flow?

Yes but also no. Major economic events will impact all stocks as seen above in the 2008 GFC, 2020 Covid19, and 2022 Inflation crisis. Other major downfalls include 2011 USA credit downgrade and the 2018 "Volmageddon" event (rising interest rates). Nintendo's stock followed all other stocks in falling during these events. Throughout history, All stocks go up but you can still end up with a 20 year downtrend that ruins your 401K. Ask Japan in 1990.

Q: Favorite game?

The most profitable Nintendo game of all time: Wii sports. Also Super Mario RPG and Fortune Street.

Q: Can I use this in a Youtube video?

Not without my permission via PM. Without proper warnings it can indirectly cause non-professional traders to make huge mistakes plus...I mean...why? Nobody cares about stonks. Itll be your least viewed video by far.

Q: What about the Red sea conflict?

I address this under post 106




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Very intriguing analysis! You don't hear speculation from a POV like this very often. Excited about your outlook/prediction for the Switch 2 announcement period. Hopefully it will come to fruition.
 
Very informative OP. I've been expecting H2 2024 for a while but this is one of the more convincing H1 arguments so far.
 
I agree. When I saw the stock uptick the first thing that came to my mind is that there must have been some insider leaks
 
Do you not recommend Robinhood?



I don’t know why I found a stock broker investor playing this as funny xD

No. Any phone trading app company like Robinhood, Binance, Coinbase, etc. do not actually seek out and buy the stocks to put on their "books". As such, If mass selling or buying happens, It will interfere with their overall margin and thus lock you out of making any changes to your account. In extreme cases, like Voyager and FTX they will go bankrupt due to mismanagement and lock you out of ALL your funds held with them until a court bankruptcy case. This scenario was made famous in the GME fiasco. The movie they made "Dumb money" highlights it as well.

It will happen again.


Thanks to all the Kudo's fellow Nintendo fans! I do not mind questions if anyone has them.
 
Thank you so much for this amazing post! I found it very well explained and super interesting. You took your time with the graphs and everything <3

@Shareholder Chad could you give us a little more detail about the timeline of the NX announcement, Switch announcement, reveal and release? Were there any rumors in the same vein of the Switch 2 that made the stock rise? When did you first hear something?
 
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Q1 announcement is definitely more-or-less assumed. Anyone that thinks otherwise is overly skeptical or uninformed imo.
 
Finally found a daytrader/investor on a Nintendo board. I'm daytrader too, but not yet investor. My analysis about this is almost identical to your analysis, even Fibonacci in your chart is on point. Great thread.
 
Thank you @Shareholder Chad for making this. I'm a business student, so basically any insight into how stocks function is kinda neat, even from a more outsider perspective.

My opinion on the Switch 2 situation is pretty much as you said. Feb reveal, March/April presentation, May release. Seems like the stock supports my theory in terms of timeframe and general increase in stock, but time will tell how accurate the model is overall. It seems like the spikes tend to happen a few months prior to announcements, so following this theory Feb seems like the time it'll be announced (furthermore, it coincides with the running idea that "Production won't start until after Lunar New Year").

Outside of that, it was just a very good read. Thanks for sharing it. (y)
 
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Thanks so much for this info! As someone who roughly owns 1700 NTDOY, and has a relatively strong position before a console announcement for the first time, I have a question, to make sure I'm interpreting your post correctly - are you saying the price will drop down once right after the Switch 2 is announced, only to start the uptrend right after that drop?
 
Thank you so much for this amazing post! I found it very well explained and super interesting. You took your time with the graphs and everything <3

@Shareholder Chad could you give us a little more detail about the timeline of the NX announcement, Switch announcement, reveal and release? Were there any rumors in the same vein of the Switch 2 that made the stock rise? When did you first hear something?

You are very welcome. The NX/Switch situation was like flying in a storm made of money and sadness honestly. It was painfully obvious to everyone the Wii-U was the greatest failure of Nintendo's recent history and they wanted to move on quickly. Especially after Iwata's death. There were no "surprises" except for the secret sauce of the Switch (Its hybrid nature). I began hearing things at the start of 2015 as far as a huge pivot Nintendo had planned. No specifics at that time but I heard some guys talking about how Nintendo was going to completely change. Well, They were right. I bought stock in preparation but had NO CLUE the plans involved smartphone games. After that is when the idea of merging console/handheld divisions began going through my circles. I do not remember if it beat or lagged the rumors online. I try to take note of those situations. Is what I hear before or after the rest of the "internet" catch wind of it. Nate's "March for something" rumor did not beat the first mention of "May 2024 for release" but I also didn't take it seriously until he reported that.

Thread will be funny to revisit in a few months

ha...buddy. You and me both. If there is one thing about the stock market you realize quickly, Its that it makes fools of all of us.

Thanks so much for this info! As someone who roughly owns 1700 NTDOY, and has a relatively strong position before a console announcement for the first time, I have a question, to make sure I'm interpreting your post correctly - are you saying the price will drop down once right after the Switch 2 is announced, only to start the uptrend right after that drop?

Your welcome. First off, congratulations on being in the four digit club. That makes us friends. I do not have a crystal ball and the one weakness of the strategies I use to make a living is the prediction of "timing". At any moment, Any stock could go sideways for an undetermined amount of time. Its what we call a "Theta market". Take the Wii-U era. Sideways for years.

I can only tell you my plan, Which is to sell now out of caution due to how violently the stock rose expecting a pullback to around 11.70 then it reaches what is called an "inflection point". From there I believe it will either start a new trend upward or fall back into the old trend (and tank if it does). As far as how that times out with the announcement/release of the Switch 2, My guess is we go into a range to start the new year until the announcement. Then it pulls back to the level I mentioned above where it could again range until the release. Predicting the movement is 100x easier than predicting the timing and the movement is still hard as hell.

Finally found a daytrader/investor on a Nintendo board. I'm daytrader too, but not yet investor. My analysis about this is almost identical to your analysis, even Fibonacci in your chart is on point. Great thread.

Hey! Another Fibster! Appreciate it. What strategies do you use if I may ask? I'm mainly a TA kind of guy (Harmonics, Fibsonacci's, Elliott Waves) but I do see the value in Fundies, News based approaches, etc. Theres a million ways to approach trading and I enjoy hearing what others use.

I forgot to thank you for your awesome analysis, @Shareholder Chad ! It's refreshing to see this kind of analysis, and could help us get a clearer picture if seen from different perspectives.

No problem! I love seeing us as a community offer completely different perspectives across industries which give us clues as to the future of Nintendo. I felt compelled to join in based on your and others contributions.
 
This thing won’t come before june. They need time to show and market new game. Nintendo will never release a new console without marketing to death a new game that shows what the system can do. They are not Sony.
 
Fantastic thread/OP, thank you for this. Also nice dual investment on Nintendo/Nvidia lol.

I know you're not in advertising but would a full reveal in March/release in May be an inadequate enough time to advertise switch 2?

And lol if this thread is the reason why fami is slow today, prying eyes 👀
 
I don't 100% believe in the conclusion of this thread but I greatly appreciate the information and reasoning. From my understanding this is congruous with the ways of Investment.
 
Well now I gotta know! 😛

Officially: It is the execution of thousands of options contracts (Side bets being made by traders saying the stock is going to this "price" at this "time"). Its pure gambling. Its basically the underground fights near a legitimate coliseum. Scum and villainy. It affects stock price if the contracts are "fulfilled" which means per contract you have x100 shares being bought or sold instantly. All of these happening at one single second.

Unofficially: Not gonna get into the weeds here but it was big money trying to get the fuck out of the market and give the "shares" to retail traders because they saw GFC happening. Again, Scum and Villainy.

Fantastic thread/OP, thank you for this. Also nice dual investment on Nintendo/Nvidia lol.

I know you're not in advertising but would a full reveal in March/release in May be an inadequate enough time to advertise switch 2?

And lol if this thread is the reason why fami is slow today, prying eyes 👀
I don't 100% believe in the conclusion of this thread but I greatly appreciate the information and reasoning. From my understanding this is congruous with the ways of Investment.

Your welcome and absolutely not. Not only is it not enough time, It would go against Nintendo's history regarding announcement/release timing (prior to Switch anyway, Switch had a tight window like this). What I am proposing is honestly laughable if you only look at their history of announcement months vs. release months. Plus Golden week is in May. Has any Japanese hardware ever been released in May? I should research that.

But the Switch being announced in Oct 20th 2016 and releasing in March 3rd 2017 also broke every release cadence/scenario Nintendo had prior. They are contrarians. So its not so crazy with that in mind.

Edit: Just to add, I think the tight window might make sense when its revealed. Theres a good possibility that the Switch 2 is marketed as "just an upgrade" and works in conjunction with Switch 1. Meaning the store is the same, interface is similar, full backwards compatibility, with only a minimal secret sauce feature.
 
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So launches May 2024 with Metroid Prime 4 and new 3D Mario in the Holidays. Possibly new mario kart in between those.

Sounds like a banger of a year if truth.
 
Hey! Another Fibster! Appreciate it. What strategies do you use if I may ask? I'm mainly a TA kind of guy (Harmonics, Fibsonacci's, Elliott Waves) but I do see the value in Fundies, News based approaches, etc. Theres a million ways to approach trading and I enjoy hearing what others use.

Yes, I'm more a "TA" guy too, but I can't ignore fundamentals analysis, news, etc...I like Wyckoff theories, Elliott Wave, Fibo, but I don't use them much, as still studying them. My strategy for intraday consists in many moving averages of different timeframes charts, combined with volume analysis, horizontal and vertical as well, the later know as volume profile, and I like too Ichimoku Clouds, and I always look the higher timeframes, then make a decision on lower timeframes, more often the 5 minutes chart. Some of MAs I use: 50 ema 5min, 89 sma 2min, 34 sma 1min, 20 sma 5min, 200 ema 5min, 8 ema 60min, 200 sma 60min and VWAP (daily). I like to plot all this in one chart, as I got used to looking charts with many lines and indicators.
 
If I recall in 2018 there was one guy who heavily shorted Nintendo wasn't there?

Also is it just me or is there stock lower than it was a few years ago, not in the "it went down" way but as in the whole history of the stock numbers themselves went lower. It's confusing I know
 
I don’t own any stocks but I followed it a lot during the activision saga and learned some things from that. Found some patterns between when the approvals happened in different countries and when the stocks dropped when the CMA first blocked it. Fascinating stuff. I appreciate your detailed input on this. It’s good to learn more if I were to invest in the future.
 
I wouldn't read too much into stock regarding announcements, there is most likely a bump due to the holiday season people putting money in before the next investor meeting/FY report. It's a safe bet that they probably exceed this year's target with the new Mario and Zelda titles that release that FY.
 
I wouldn't read too much into stock regarding announcements, there is most likely a bump due to the holiday season people putting money in before the next investor meeting/FY report. It's a safe bet that they probably exceed this year's target with the new Mario and Zelda titles that release that FY.
You miss the multiple examples of similar stock bumps at the end of years preceding new consoles?
 
So launches May 2024 with Metroid Prime 4 and new 3D Mario in the Holidays. Possibly new mario kart in between those.

Sounds like a banger of a year if truth.
Flip those. Actually Metroid better off being a 2nd or 3rd month game with another more popular hit for the holidays.

Launch: 3D Mario
Month 2/3: Metroid Prime 4
Holidays: Mario Kart? Donkey Kong? Zelda Spinoff? Anyone's guess
 
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You miss the multiple examples of similar stock bumps at the end of years preceding new consoles?
Tbf most gaming stocks this year had crazy bumps for a period Capcom, Ubisoft and Nexon. It is just a fool's game looking at this as concrete information about a new console announcement coming soon.

Overall it's a good thread on how Nintendo stock goes when something new is announced but don't place your bet on announcement based on this.
 
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God I love this site. Even if this doesn’t pan out that’s some amazing work @Shareholder Chad! What a way to start off a pivotal year.

This is the energy I love. Whether it accurately predicts anything doesn't matter in the grand scheme of things. Its the pursuit of knowledge and clues. The findings of potential off the wall scenarios such as manufacturing, warehousing, shipment records, stock movements, industry chatter, etc. are all exciting and worthwhile to pursue to uncover future products from the company we all love.

If I recall in 2018 there was one guy who heavily shorted Nintendo wasn't there?

Also is it just me or is there stock lower than it was a few years ago, not in the "it went down" way but as in the whole history of the stock numbers themselves went lower. It's confusing I know

You are referring to the Nintendo Stock split of Sept/Oct 2022. 1 to 5. Essentially it gave everyone who had 1 stock, 4 more. It reduces the price of an individual stock to attract more investors as it creates an illusion of a "cheaper" stock and the illusion of more growth potential.

Yes, I'm more a "TA" guy too, but I can't ignore fundamentals analysis, news, etc...I like Wyckoff theories, Elliott Wave, Fibo, but I don't use them much, as still studying them. My strategy for intraday consists in many moving averages of different timeframes charts, combined with volume analysis, horizontal and vertical as well, the later know as volume profile, and I like too Ichimoku Clouds, and I always look the higher timeframes, then make a decision on lower timeframes, more often the 5 minutes chart. Some of MAs I use: 50 ema 5min, 89 sma 2min, 34 sma 1min, 20 sma 5min, 200 ema 5min, 8 ema 60min, 200 sma 60min and VWAP (daily). I like to plot all this in one chart, as I got used to looking charts with many lines and indicators.

I've been meaning to educate myself more in the Wycoff theory. I understand the basic principal but actually seeing trades done with it. The Ichimoku Clouds are some wild wild stuff as well. The 5 min. charts are king for me in regards to daytrading. I often use confluence between those 5 min. candles and my elliott wave counts to enter/exit day trades. Volume analysis is also super cool. I often use it when the markets are moving extremely fast.

I wouldn't read too much into stock regarding announcements, there is most likely a bump due to the holiday season people putting money in before the next investor meeting/FY report. It's a safe bet that they probably exceed this year's target with the new Mario and Zelda titles that release that FY.
Tbf most gaming stocks this year had crazy bumps for a period Capcom, Ubisoft and Nexon. It is just a fool's game looking at this as concrete information about a new console announcement coming soon.

Overall it's a good thread on how Nintendo stock goes when something new is announced but don't place your bet on announcement based on this.

I disagree wholeheartedly and know for a fact the recent bump was NOT for "holiday season people putting money in before the next investor meeting". Actually speaking with investors confirmed this for me. Also, It is NOT a "Fools game". It is taking patterns and turning them into theories. That said, I absolutely welcome skepticism for this entire thesis. I don't expect anyone to see what I posted and agree with it.

I did however already place that bet you are referring to and its netted me a wonderful Christmas. (y)
 
Please refrain from boy’s club jokes. - xghost777, meatbag, VolcanicDynamo
Chad just came out here and wipped out his massive, 12 inch post.
 
Great writeup especially with contextualising the past near two decades. I wonder if the local market (ie Japan) demonstrated similar patterns with regards to console announcement and releases?

On the point of a certain breakfast condiment's post - surely their argument is looking at things with a lens directed contrary to the usual? Prefacing this with my having no share market experience, I would've thought that shareholder sentiment is prospective: the recent rise seems to be only starting like late October, but by this point we already knew what Nintendo had on offer (regarding Wonder and SMRPG for example) but there wasn't a bump as an expectation that said titles would definitely perform well in the season. (Also how does this explain the flat trends in 2021 and 2022 holiday seasons which afaik were still strong for the Switch?)

For 2023 in particular, I think the rise in first half is being confounded by the Mario Movie in particular (I don't think TOTK on its own would lead to such sustained stock growth necessarily); and the important point is that unlike Capcom / Ubisoft / Nexon, Nintendo has hardware to move plus their broader multimedia / etc. expansion and thus shareholder sentiment is probably going to take note of this as well (since I can't see software as the sole determinant of stock movements especially in a later year of a console).

Could you provide examples of people saying this?
There's a fair bit of discussion in the Future Hardware monitoring apparent SKUs in various countries' customs shipping data, though I think the big spike that IWMTB19's referring to is that which occurred around late October or thereabouts - with the major posts of note being LiC's and LuigiBlood's here.
 
There's a fair bit of discussion in the Future Hardware monitoring apparent SKUs in various countries' customs shipping data, though I think the big spike that IWMTB19's referring to is that which occurred around late October or thereabouts - with the major posts of note being LiC's and LuigiBlood's here.
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Correlation does not equal causation and all that but the fun bit of trivia is they beat their Wii era highs in stock value recently.
 
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