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Nintendo Shares Plummet After Realizing It Doesn't Actually Made Pokémon Go

Nintendo Shares Plummet After Realizing It Doesn't Actually Made Pokémon Go

June 22, 2021 16:16

Whereas the major stock market plummeted on the financial ticker tape, Japan’s Nintendo enjoyed the rising stock position of the LED ticker tape of the stock market. The prime reason for this was that majority of investors thought that Nintendo is the creator of Pokémon Go. However, despite enjoying skyrocketing stock position, Nintendo made an announcement that Pokémon Go is not its entity; this news however later on adversely affected Nintendo’s share in the market.

The company that had enjoyed a rise in stock market witnessed a downfall of 17% accounting for $6.4 billion.

Who owns Pokémon Go?

A lot of buzz hit the stock market after Nintendo announced that it does not own Pokémon Go. The addictive game is designed, developed and distributed by Niantic Inc. which earlier created few games for Google. After that, it separated from Google and now works as a separate entity. However, there is a relation between Nintendo and Niantic Inc.; Nintendo had stakes in Niantic and hold 32% of the voting power in the Pokémon Company. This probably created confusion amongst the investors leading to a high-rise in the share price of Nintendo. Though it is an investing partner in Niantic yet Nintendo cannot get the direct benefit of the profit.

How did Nintendo benefit from Pokémon Go?

The probable reason for this could be the lack of awareness of the investors who failed to recognize the fact that Nintendo logo is nowhere to be seen on the Pokémon Go game. Moreover, investors also believed that Nintendo was the sole owner of Pokémon franchise. The minor confusion, however, helped the company to register double growth in its share price.

Nintendo broke the ice:

Although the company was enjoying huge benefits out of this game’s popularity yet the company went ahead and declared that it has no association with Pokémon Go and the game has been solely designed and developed by Niantic Inc. Despite the honest efforts, the statement adversely affected Nintendo’s share, making it plummet by 17%.

Nintendo, however, is now all geared up to launch new mobile games like Animal Crossing and Fire Emblem. These games will be launched in partnership with DeNA. Here the company will directly reap the benefits from the profit which it could not do while its association with Niantic Inc.

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