Nexon Stock Sinks 14% After Earnings, Down Over 30% Since Feb 1
It's not a good time to be a Nexon investor. After reporting a 10% increase in top line revenue and overall decent operating results, the stock is trading down over 14% in Japan today. Nexon's stock closed at 2,065 yen per share on February 1st, 2016 and is currently trading a tad below 1,400 yen as of this post (over 30% decline) in less than 2 weeks. Today's decline alone represents over $800M in company value lost.
Despite the recent plunge in Nexon's stock price, the company is still performing quite well and is profitable. In fact, since its IPO in late 2011 Nexon shares are still up over 30%, so long term investors are still ahead. It's also worth mentioning that despite these day to day movements in a company's stock has little to no effect on the games they publish. In fact, Nexon's revenues are up for the year and U.S. and European revenues have jumped over 50% in the last year. Western markets are a big focus for Nexon in 2016 and they expect continued growth here.
In more positive news, NCSoft's earnings report was much more positive and the company's stock is trading at multi-year highs.
