Nintendo’s Shares Plummet After Investors Realise It Doesn’t Actually Make Pokemon Go

Nintendo has about a 13% stake in the game.

The company’s statement did mentioned the soon to be released Pokemon Go Plus wearable device that’ll track your steps for the game.

While it owns 32% of the Pokemon Company, its share of the games actual developer, Niantic, is much smaller.

Well, ever since Pokemon Go became one of the biggest gaming phenomenons in history, Nintendo has benefited in a huge way, with their stock more than doubling in price in July.

But some market players said Nintendo was being disingenuous, adding that there were few expectations of upward revisions to its profit targets so early after the game’s launch and that it was clear the game would be key to earnings.

Furthermore, the studios teased upcoming rare Pokemon for Pokemon Go. They expected it to be a success but servers were in no way ready for millions upon millions of players.

“I think Nintendo issued that statement because it was uneasy with how high the shares were rising”, said Hideki Yasuda, analyst at Ace Research Institute.

Nintendo is scheduled to report earnings on Wednesday, but they will cover the quarter prior to Pokemon Go’s release. “These things were factored in and boosted its shares”. The app was recently released in Japan, birthplace of the Pokemon franchise, so its dominance is expected to continue.

It’s an easy connection to make, indeed when you think of Pokemon there won’t be a single person that doesn’t then immediately connect it to the original games which launched on Game Boy back in the 90s.

Authorities in a number of countries have expressed safety and other concerns about the craze.