Japanese government sells its Nintendo stock
Wait, what? It turns out that the Japanese seat of power actually owned around 1.4% of Nintendo's stock, coming in at a pricey $557 million dollars ... turns out they made quite a profit, seeing as how Nintendo's stock has gone up 43% in the past six months alone.
The unfortunate consequence of this action, however, is that Nintendo's stock value dropped by 2.7% to 32,950 yen per share. Before the Sony fanboys doom-sayers come out in full force, however, it should be noted that our sister site Joystiq notes that the government sold the shares as per Nintendo's request; the gaming giant actually wanted to increase the number of individual share-holders.
Should you go buy some NTDOY stock? If you're business-savvy, why not? Nintendo's been on a roll financially, and it can't hurt to revel in some of their success.
