PBYP<-------Dumb Investment!
(Closes share price.)
San Antonio, Sept. 2 (Bloomberg) -- Play-By-Play Toys &
Novelties Inc. shares nearly tripled after the toymaker was
awarded licensing rights to design, make and distribute toys and
other items featuring Pokemon, Nintendo Co.'s popular video game.
The shares of San Antonio-based Play-By-Play, which had 1998
sales of $178.1 million, rose 2 15/16 to 4 7/16 in trading of
13 million, more than 149 times the three-month daily average.
The stock had the biggest percentage gain and was the seventh-
most active on U.S. exchanges.
Play-By-Play will design and make Pokemon plush toys,
beanbags, key chains and temporary tattoos, and ship them to U.S.
amusement parks, arcades and other locations as early as April.
The company said it was awarded rights to make Pokemon products
through 4Kids Entertainment Co., Nintendo of America Inc.'s
exclusive licensing agent.
``It's a nice contract, but it doesn't start contributing
until the spring,' said Kercheville & Co. analyst Jeff Dabbs, who questions whether Pokemon's popularity can endure. ``I'd be a
little concerned about having to wait another year.'
Play-By-Play's license agreement doesn't allow it to release
its Pokemon toys earlier, company Chief Financial Officer Joe
Guerra said. Meantime, Play-By-Play will showcase its items in
toy trade shows to gauge demand, he said.
Play-By-Play is the latest toy company to see its shares
soar following an agreement to sell Pokemon-related merchandise.
Analysts have attributed recent gains in shares of Grand Toys
International Inc., Topps Co. and Toymax International Inc. to
news linking them to Nintendo's ubiquitous video game.
Pokemon is a top-selling video game, a No. 1-rated TV show
in U.S. syndication and a No. 1 show on the Warner Bros.
television network, Play-By-Play said. A Pokemon movie makes its
debut this fall.
--Justin Baer in the Princeton newsroom (609) 279-4126/gfh |
