Investors in the company likely expected more high-profile announcements.
Remake of The Legend of Zelda: Ocarina of Time
As reported by Reuters, after the Nintendo Direct presentation on June 9, Nintendo's shares dropped by 7.5%. By the time of writing, they had slightly recovered with a current decline of 6.76%, trading at 7,200 yen ($45) per share.
The recent Nintendo Direct was relatively modest. During the event, the company showcased several ports for Switch 2, remakes, and previously announced games. For instance, it officially announced a modern version of The Legend of Zelda: Ocarina of Time and presented gameplay trailers for Kingdom Hearts IV and Fire Emblem: Fortune’s Weave. However, there was almost nothing truly new except for Xenoblade Genesis and a few other games.
According to Jefferies analyst Atul Goyal, the main issue with the show was the lack of a new "3D Mario game" announcement. He fears that without such a project, it will be challenging for Nintendo to achieve impressive sales during the holiday season.
It is worth noting that Nintendo's shares have been experiencing a decline for a while now. Since the beginning of the year, they have decreased by 32%, and from the peak in August 2025, they have fallen by 50%. This is partly due to the crisis in the memory chip market.