Why Nintendo Stock Got Rocked Today

Many stock market players were avoiding pushing the on switch with 's (OTC: NTDOY) U.S.-listed equity on Wednesday.

An influential researcher pushed its recommendation down one peg, and the Japanese video game company's stock saw a resultant decline. Nintendo's American depositary receipts (ADRs) finished the day down by over 3%, in a session where the bellwether S 500 index slid by only 0.1%.

The company behind the move was Wedbush Securities, which is known for its coverage of tech stocks. Analyst Alicia Reese reduced her recommendation on Nintendo's Japan-listed equity from outperform (read: buy) to neutral that morning, at a price target of 14,000 yen ($95.36) per share.

Source Fool.com