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Pokemon Go is displayed on a cell phone in Los Angeles on Friday, July 8, 2016.  (AP Photo/Richard Vogel)

Nintendo's stock deflates after investors realize game maker doesn't own Pokémon Go


The iconic company's stock price deflated by 18 percent on Monday after nearly doubling in the days following the debut of "Pokemon Go."

The reason? Nintendo may have a stake in the company that produced the game, but Nintendo itself didn't make the game -- and investors are just now waking up to that.

Investors may have known, but it took Nintendo sending out a reminder for them to recall.

In a memo released Friday, Nintendo wrote, "Pokémon Go is developed and distributed by Niantic. The Pokémon Company, which is an affiliated company of Nintendo, holds the ownership rights to Pokemon."

That said, as CNET notes, Nintendo does own 32 percent of the Pokémon Company, hence why the game stands to continue making even a "limited" impact on the game maker.

Did you know Nintendo didn't make Pokemon Go?

For more news of the day, check out our 60 Second Circa for Monday AM, July 25, 2016.

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