Nintendo Stocks Plummet After People Realize it Doesn’t Make Pokemon Go

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Nintendo’s share price plummeted 17 percent in Tokyo trading Monday after investors apparently finally realized that – oops – the company doesn’t actually make Pokemon Go, the phenomenally popular new augmented-reality game.

The videogame giant’s stock had doubled since the cellphone app—produced by Niantic Inc.—was released in mid-July. To clear the air, Nintendo put out a statement Friday, after the close of trading, pointing out that it doesn’t own or make the game, though it does hold hold significant stakes in Niantic, as does Google parent Alphabet. Read more at THE GUARDIAN.

{CB Frommer-Matzav.com}

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