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July 25, 2016 06:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/B65cT5xS1wE/nintendo-shares-plummet-after-investors-realize-it-doesnt-actually-make-pokemon-go
Nintendo Shares Plummet After Investors Realize It Doesn't Actually Make Pokemon Go
Sam Byford, reporting for The Verge: Nintendo shares have skyrocketed since Pokemon Go's release and instant transformation into global cultural phenomenon, but they fell dramatically today after investors realized that Nintendo doesn't actually make the game. Nintendo put out a statement after the close of trading on Friday pointing out that the bottom-line impact will be "limited" as it only owns 32 percent of The Pokemon Company, and that revenue from the game and its Pokemon Go Plus smartwatch peripheral have been accounted for in the company's current forecasts. Pokemon Go is a collaboration between The Pokemon Company and Niantic Labs, the developer who previously created the similar AR game Ingress as part of Google. This apparent revelation caused shares to plummet in Monday trading, with the stock dropping 17 percent at one point, representing about $6.4 billion in value; as Bloomberg notes, Tokyo stock exchange rules prevent share prices from moving more than 18 percent in a single day.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/B65cT5xS1wE/nintendo-shares-plummet-after-investors-realize-it-doesnt-actually-make-pokemon-go
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