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Nintendo Stock Price Drops on Pokémon Go Guidance

posted by cmn32480 on Tuesday July 26 2016, @05:12AM   Printer-friendly
from the that's-not-actually-ours dept.

butthurt writes:

Bloomberg reports that Nintendo's stock price fell by 18%, the maximum amount permitted in one day on the Tokyo stock exchange. The decrease occurred after the company issued guidance that the popular game Pokémon Go should not be expected to bring in much revenue for the company. The game was created by Niantic Inc., of which Nintendo has partial ownership. Nintendo's stock had "almost doubled" since its release.

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  • (Score: 2) by tibman on Tuesday July 26 2016, @02:16PM

    by tibman (134) Subscriber Badge on Tuesday July 26 2016, @02:16PM (#380293)

    The falling stock price is the price people are paying to buy from a seller, right? So you can probably still sell/trade but at a fixed price?

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  • (Score: 3, Informative) by butthurt on Tuesday July 26 2016, @09:39PM

    by butthurt (6141) on Tuesday July 26 2016, @09:39PM (#380463) Journal

    I'm not sure; this suggests it's done in the way you say:

    TSE sets a price range, known as the "Daily Price Limit", within which price fluctuations are limited in a single day.

    --https://web.archive.org/web/20150325082737/http://www.jpx.co.jp/english/equities/trading/domestic/06.html [archive.org]
    However something else [chicagotribune.com] says that, for bond futures rather than stocks, they halted trading because of price fluctuation:

    The Tokyo Stock Exchange halted trade in Japanese government bond futures twice on Friday after a sharp plunge [...]