Nintendo can't seem to catch a break in regards to the financial response to its E3 conferences, as the company's stock value has dropped following its E3 2o19 Direct, thanks in no small part to the delay of Animal Crossing: New Horizons for the Nintendo Switch.
In 2018, Nintendo's stock value dropped after E3 due to the fact that the company focused on Super Smash Bros. Ultimate and barely touched on other releases that were due out that year, especially regarding the mainline Animal Crossing series, which was absent on the Wii U.
Animal Crossing: New Horizons was discussed in detail during Nintendo's E3 2019 Direct and during the Nintendo Treehouse: Live presentations. It was during the Direct that it was revealed that the release date of the game had been pushed back from 2019 to 2020. This means that one of the Nintendo Switch's biggest games of 2019 was now delayed.
The delay of Animal Crossing: New Horizons has been cited by the Financial Times (via Nintendo Life) as the main cause behind Nintendo's stock value dropping by around 3.5%, which means that the company's stock value is worth over $1 billion less than it was bef0re E3. The blame for the drop in stock value isn't being shouldered completely by Tom Nook, as the lack of announcements concerning a new Nintendo Switch model and no news concerning a streaming platform have also contributed to the fall.
Nintendo's 2019 holiday lineup was projected to contain both Pokémon Sword & Shield and a new Animal Crossing game. The fact that Animal Crossing: New Horizons has been pushed back to 2020 has opened a hole in Nintendo's 2019 schedule and Pokémon Sword & Shield might not be enough to fill it, especially following some controversial design choices in the games that have been revealed during E3, such as the removal of Mega Evolutions and Z-Moves and a smaller selection of Pokémon being available in the game. It just goes to show how much power Tom Nook and his friends hold at Nintendo that a small delay has cost the company so much.
Animal Crossing: New Horizons will be released for the Nintendo Switch on March 20, 2019.