Investors realize Nintendo didn’t develop Pokémon Go and shares plummet

Nintendo’s shares plunged after the company said late Friday that the worldwide success of Pokémon Go will not significantly impact its financial results. Nothing Nintendo disclosed about the ownership of the game was new information, but markets were shocked anyway.

The stock sank 18 percent to 23,220 yen at the close in Tokyo, the maximum one-day move allowed by the exchange, noted Bloomberg. After the drop, Nintendo’s stock remained flat. In morning trading today, the Kyoto-based company’s shares were down $2.36, or 8.14 percent, at $26.64.

(Source: Google Finance)

(Source: Google Finance)

On Friday, Nintendo put out a statement pointing out that it owns only 32 percent of the voting power of The Pokémon Company, an affiliated company that holds the ownership rights to Pokémon. Nintendo…

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