Nintendo stock crashes after Direct despite Ocarina of Time Switch 2 remake

Gamers are still digesting the June 9th Nintendo Direct. While opinions seem mixed, investors were apparently not impressed by the new Switch 2 games showcased. The Legend of Zelda: Ocarina of Time remake news didn’t prevent the Nintendo stock price from falling more than 10% since opening.

What Wall Street thought of the Direct

The Japanese exchange had already closed by the start of the broadcast. Even so, foreign shares trading under the NTDOF ticker symbol declined sharply during the event. The stock had declined by over 30% from the start of 2026, but reached its highest point in a month before the Direct. That bump didn’t last, as the company previewed its crucial holiday lineup.

The annual fiscal report, revealed on May 8th, didn’t alleviate the fears of investors. The company announced 19.86 million console sales since the handheld released in June 2025. Yet, with the Switch 2 price increase already seen in Japan set to hit other regions in September, there are concerns about the road ahead.

One way to convince skeptics would be to tease a strong roster of first-party titles. As the crucial retail months approach, system sellers could entice buyers to upgrade. With the last general Nintendo Direct being in September 2025, hype levels spiked leading up to the June 9th presentation.

Unfortunately, the stumbling Nintendo stock suggests the upcoming Switch 2 games didn’t wow shareholders. Among the bullet points, Fire Emblem: Fortune’s Weave appeared before its September 17th launch. Gamers also got their first glimpse at Xenoblade Genesis, but it won’t be ready until 2027. Otherwise, the Ocarina of Time remake is drawing the most attention.

The Zelda remake trailer left viewers wanting more

Leaks from NateTheHate prepared fans for the return of the popular N64 title. Sure enough, Link emerged at the end of the Nintendo Direct. Despite a 2026 release date, some viewers lamented the lack of gameplay. The brief video didn’t answer many questions about how the developers would improve the classic.

The Nintendo stock price would also likely have been boosted by a famous plumber. Sadly, the holidays may not see any new Mario adventures, including the rumored Super Mario Odyssey sequel.

Immediate reactions to these events are often exaggerated and could reflect unrealistic expectations. Nevertheless, facing a component shortage, questions remain about Switch 2 profitability.