Nintendo's Big Rally on China Prospects Hasn't Scared Off Shorts
- Low-end Switch version to be released later this year: sources
- Hedge funds boosted bets last week that shares will fall
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Nintendo Co. shares have surged this year thanks to a stellar games lineup and potential entry into China. But the hedge funds betting against the company aren’t going away.
Nintendo’s stock has rallied 30 percent this year, the best start since 2015. Still, short sales, or bets the stock will fall, are more than double their level a year ago. Hedge funds even added to those positions last Friday -- the day Nintendo shares rallied 15 percent as China gave a nod to Switch game sales in the country.