Nintendo's shares drop for a second day in a row as the stock exchange in Osaka closes.

Following the unveiling of the Wii U on Tuesday E3 attendees rushed to give it a go and fans were eager to hear more information but it seems investors were less impressed. Yesterday we reported that Nintendo's shares declined to a five year low and unfortunately shares declined for a second day in a row.

The Wall Street Journal report that late yesterday the UBS downgraded its rating of Nintendo from "buy" to "neutral", displaying a further lack of faith in the company. One of Ichiyoshi Investment Management's chief fund managers, Mitsushige Akino, stated that the drop in shares does not necessarily reflect disapproval of the Wii U but rather expectations were too high prior to E3.

Nintendo's Charlie Scibetta also commented on the shares decline but didn't seem too worried and reminded us that shares in Nintendo dropped following the announcement of the Wii and 3DS as well.