Pokemon tempts market into playing familiar games
20/07/2016 03:54
(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
By Quentin Webb
HONG KONG, July 20 (Reuters Breakingviews) - Nintendo shares
have soared thanks to augmented-reality hit Pokemon GO. So have
firms offering Pokemon bread, burgers, cartoons, and arcades.
With Nintendo stock now retreating, this looks like a classic
case of markets overshooting as investors pile into a good
story.
Full view will be published shortly.
CONTEXT NEWS
- Shares in Nintendo fell sharply on the morning of July 20.
By 11:25 a.m. in Tokyo (0225 GMT) they had fallen more than 13
percent to 27,605 yen a share. The stock is still up 92 percent
versus its close on July 6, the day that augmented-reality game
Pokemon GO was launched.
- Shares in McDonald's Holdings Company Japan stood 9
percent higher at 3,490 yen. Without citing its sources,
TechCrunch said the fast-food chain operator would become the
game's first sponsor in Japan, with its 3,000-plus restaurants
becoming "gyms", or battlegrounds, for Pokemon collectors.
- Reuters: Nintendo shares fall 10 pct after doubling on
Pokemon GO craze urn:newsml:reuters.com:*:nL4N1A6061
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- For previous columns by the author, Reuters customers can
click on WEBB/
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(On Twitter https://twitter.com/qtwebb Editing by Peter Thal
Larsen and Katrina Hamlin)
((quentin.webb@thomsonreuters.com;)(Reuters
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Keywords: NINTENDO POKEMON/STOCKS BREAKINGVIEWS