Nintendo loses billions in value after ‘Pokemon Go’ truth bomb

Nintendo made it clear on Friday that it didn’t actually develop everyone’s favorite augmented reality game. Pokemon Go is an unprecedented success, but Nintendo recently admitted it won’t directly profit from the augmented reality game, leading to a loss of $6.7 billion in Nintendo’s market value on Monday. Nintendo’s market value rose by $7.5 billion on July 11th, just after Pokemon Go went public and became an instant, massive hit across the globe.

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