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NTDOY -7%; Jefferies blames technicals for Nintendo slump

Published 06/04/2018, 09:26 AM
© Reuters.  NTDOY -7%; Jefferies blames technicals for Nintendo slump
NTDOY
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  • Nintendo ADRs (OTCPK:NTDOY) are 7.1% lower in premarket U.S. trading after the company's biggest tumble on Japanese markets in a year and a half.
  • Shares are slumping ahead of E3 and while observers are looking for what to blame, Jefferies thinks it's technical: The stock had stayed above its 200-day moving average since Pokemon Go in 2016, until last week. The firm's still advising a Buy with earnings, cash flow and dividends getting stronger. (h/t Bloomberg)
  • It's down more than 12% since March 26.
  • Now read: Vishay Precision (VPG) Presents At 19th Annual B. Riley FBR Investor Conference - Slideshow


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