More Squawk from Jim Cramer: Nintendo (NTDOY) Stock Falls on Profit Taking

TheStreet’s Jim Cramer said he was waiting for some profit taking in Nintendo (NTDOY) after shares soared on its Pokemon Go game.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of Nintendo (NTDOY) are slipping 4.64% to $26.31 on Wednesday morning due to profit taking after shares spiked on its "Pokemon Go" game.

"I was waiting for some profit taking in Nintendo because it's really not going to help their earnings per share," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning.

Cramer added that "it's the concept (of the game) that matters."

The app was released last week in the U.S.

"I just think that really nobody knows what to do with this thing. It happened so fast," Cramer said, referring to the game.

He noted that nobody knew augmented reality was ready.

"It's not a nutty thing to suggest that there'll be many more augmented reality games and this is a huge data hawk," Cramer stated.

T-Mobile (TMUS) CEO John Leger said that since Friday, the number of active players doubled and data usage was at 4x.

"That's the way to play it," Cramer said.

The app works through a smartphone's camera and GPS technology which detects the user's physical location. Then Pokemon virtually appears for the user to catch. Pokemon can appear in every day places including your home, office and car.

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