Nintendo’s Pokemon Go-Fueled Rise Hits Turbulence, Stock Drops 17%
After continuing to rise since their popular monster hunting game debuted just over two weeks ago, Nintendo’s stock price dropped 17% on the Japanese stock market today.
It comes on the back of Pokemon Go’s successful Japanese launch.
The cause of the sudden drop in stock value has been attributed to recent investor reports that shed some light on just how much money Nintendo can expect to make from the phenomenon.
Nintendo put out a release last week to clarify that Pokemon Go is actually co-developed by a former-Google subsidiary called Niantic and The Pokemon Company.
Accordingly, they describe the impact on their bottom line as “limited” by the size of their stake in The Pokemon Company.
In addition, they also noted that their expected sales for the game’s upcoming accessory Pokemon Go Plus have already been included in their current forecasts.
It’s possible that the stock value could continue to fall over the week – the Japanese stock exchange restricts movement of more than 18% in a day.