Why Nintendo (NTDOY) Stock Is Retreating Today

NEW YORK (TheStreet) -- Shares of Nintendo (NTDOY) have fallen -2.91% to $14.03 on heavy trading volume.

Satoru Iwata, president of the home entertainment firm, yesterday delivered his clearest message yet to gamers about the company's future: Don't count the Wii U out yet, Bloomberg reports.

The company announced six new titles for the Wii U in an online presentation for the annual Electronic Entertainment Expo in Los Angeles. 

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"To improve sales of the Wii U, Nintendo needs to produce hit titles," said Hideki Yasuda at Tokyo-based Ace Research Institute told Bloomberg. "It's not clear whether new game titles developed by Nintendo will sell well or not."

NTDOY Chart

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