As Nintendo Stock Drops, Sony Market Value Pulls Back in the Lead
We reported yesterday that thanks to Nintendo’s investment in Pokemon Go that the company’s market value has surpassed Sony’s. The moment in the sky appears to be rather fleeting as Nintendo is already dipping back down below the PlayStation manufacturer. In just a little over half a day, the Nintendo stock price has fallen from 32,000 yen to 27,700 yen, which has in turn caused the company’s market value to fall back down under Sony.
The most probably theory for this downward turn is that investors are selling their recently purchased shares for a profit while the getting is good. As more stockholders sell shares in an attempt to do the same, the stock price will continue to fall.
That said, however, Nintendo’s stock and market value are still far better than they were before the mobile game’s launch. It’s doubtful that it will crash too much further, but Nintendo’s day in the sun is over for now. We’ll see how upcoming software and hardware launches will further affect their financials.