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Sammy Continues to Rise on King Camel
Sammy Corporation stock has increased by 6.47 percent or 260 yen at 4,280, extending the previous session's 13.2 percent surge in a rally sparked by the unveiling of the company's new pachinko slot machine - "King Camel" - at the end of last month.
"This kind of stock...is hit-driven, like videogames and software. So each time they launch something new people are excited," said UBS analyst Laurent Halmos. "In the short term, it's difficult to go against excitement...but in terms of earnings we believe they will be under for the full year."
Sammy hopes to sell more than 140,000 units of King Camel, which sell for about $3,000 each. But Halmos reckons 100,000 is a more realistic target, and is also cautious about Sammy's other businesses including arcade game equipment and home-use games.
SOURCE: Reuters.
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