After Tuesdays announcement of a cut in shipments of hardware, and more importantly, a cut in their predicted profit, Nintendo's shares fell 6.96 percent on Wednesday.

More bad news came early this morning as the company's shares fell 11.76 percent bringing them to a 2002 low point of 11,330 yen.

Industry experts are blaming not only the rise of the yen against the dollar, but also the condition of the portable market, which has been suffering lately. As a result Nintendo have cut their estimated annual software shipment for the GBA by 12 percent.

Bad times for Nintendo, but they are well known for keeping huge amounts of cash at hand, so they are certainly not in any immediate trouble. I personally expect share prices to soar again when games such as Pokemon Advance and Metroid Prime come out, and no one can forget the "Boom" announcement

Source: Reuters