After investors pushed up Nintendo Co. shares with a fervor only matched by gamers chasing Pikachu, traders are now locking horns over how much the high-flying stock is worth.
Bears have boosted short interest in Nintendo to its highest in five months after the stock doubled in just over a week. The other camp includes Yasuo Sakuma of Bayview Asset Management Co., who says the rally has long-term potential as the mobile app ¡°Pokemon Go¡± is rolled out to more countries and the game-maker expands its location-mapping technology to the rest of its lineup, including ¡°Super Mario Brothers¡± and ¡°The Legend of Zelda.¡±
¡°The way the stock has risen is abnormal,¡± says Sakuma, Tokyo-based chief investment officer for the $2.6 billion fund manager. ¡°For now, the stock needs to cool down, but there isn¡¯t enough evidence to say that the ?4 trillion in market cap for the company is too high.¡±
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