If you have been following the news in the past week or so, you probably would have thought it was a great time to buy Nintendo shares. This is because the company’s share prices have been on the rise and it does not appear to be slowing down. It even surpassed Sony in terms of market value.
However if you were kicking yourself for not buying Nintendo shares, you can rest assured knowing that you might have done the right thing. According to reports, it seems that Nintendo’s stocks have plunged by as much as 17% following a statement released by the company clarifying that they had pretty much nothing to do with Pokemon GO.
As we had stated before, Nintendo’s involvement with Pokemon GO is probably the 32% that they own of The Pokemon Company which owns Pokemon, and who allowed Niantic to create a game based on its franchise. This is why Nintendo’s logo does not appear anywhere on Pokemon GO, but yet investors somehow felt that the two were related.
Nintendo’s share prices could have potentially fallen further but according to Bloomberg, the Tokyo stock exchange rules prevents share prices from moving more than 18% a day, meaning that it is possible that tomorrow could continue to see Nintendo’s share prices tumble. That being said, we suppose the publicity is probably appreciated nonetheless, especially with Nintendo partnering with DeNA for additional mobile games that are due for a release later this year.
Filed in . Read more about Apps, Nintendo and Pokémon GO.