- Saudi Arabia’s Public Investment Fund has scaled back its holdings in Nintendo stock (OTC:NTDOY) after reports it could increase its stake
- According to a Japanese regulatory filing made this week, the fund reduced its stakehold in the Japanese video game giant to 7.54 per cent from the 8.58 per cent it held
- This turn came just hours after local media cited comments by Prince Faisal bin Bandar bin Sultan al-Saud indicating that the fund was open to expanding its investments in Nintendo
- Nintendo stock (OTC:NTDOY) opened trading down at US$13.20
Saudi Arabia’s Public Investment Fund has scaled back its holdings in Nintendo stock (OTC:NTDOY) after reports it could increase its stake.
According to a Japanese regulatory filing made this week, the fund reduced its stakehold in the Japanese video game giant to 7.54 per cent from the 8.58 per cent it held.
This turn came just hours after local media cited comments by Prince Faisal bin Bandar bin Sultan al-Saud, vice chairman at Savvy Games Group, the fund’s gaming-focused subsidiary, that indicated that the fund was open to expanding its investments in Nintendo.
In its recent fiscal Q1 2025 report, Nintendo admitted that Switch sales (now in its eighth year) have fallen 46 per cent year-over-year. The era of captive audiences from COVID lockdowns in the distant rear-view, and the launch of the technically superior Sony (NYSE:SONY) PlayStation 5 and Microsoft (NDAQ:MSFT) Xbox Series X / Series S consoles have only helped to dampen its performance further.
Fans were eagerly awaiting Nintendo’s Wednesday news update expecting news around a new system, but instead the company announced a new US$100 alarm clock. Hope you are not a light sleeper, because one of its features is that it plays music and sound effects when you move in bed.
Nintendo Co., Ltd. stock (OTC:NTDOY) opened trading down more than 1 per cent at US$13.20 per share on the OTC Pink market, where it has risen 1.69 per cent since the year began.
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(Top image: Nintendo)