Thinking about what to do with Nintendo stock? You are not alone. After an exhilarating run, Nintendo’s shares have taken investors on a ride that has mixed short-term turbulence with some truly impressive long-term gains. Over the last year, the stock has soared 74.0%, and if you zoom out to a five-year view, it has more than doubled, rising a massive 150.4%. Yet if you have checked your portfolio over the past month, you might be feeling uneasy, with the stock pulling back 4.7% and even dipping 3.1% in just the last week.

Recent headlines add a layer of intrigue to this picture. Nintendo is still making waves in the console market, as its Switch 2 just surpassed the 2 million units sold mark in Japan, becoming the…