Will Nintendo (NTDOY) Stock Rise After Beating App Store Record with Pokemon Go?

Apple (AAPL) announced that Nintendo’s (NTDOY) Pokemon Go broke an App Store record in its first week.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Nintendo  (NTDOY) closed down 10.55% to $29 this afternoon despite Apple (AAPL) announcing that the Japanese game creator's Pokemon Go broke the record of the most downloaded app in its first week ever on the App Store, TechCrunch reports.

In its first week, Pokemon Go was only available to download in New Zealand, Australia and the U.S, but still broke the record.

Apple has not released a download count for the app.

Nintendo released Pokemon Go in Japan today, after postponing the launch earlier this week due to concern that hype might overload the game's servers.

Nintendo stock took a hit today after an employee told Bloomberg that the app's financial impact on the company may be muted.

Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B.

The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. TheStreet Ratings feels its strengths outweigh the fact that the company shows weak operating cash flow.

You can view the full analysis from the report here: AAPL

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

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