Nexon (JP:3659) stock was down on Wednesday alongside allegations that the video game company stole the likeness of a popular streamer to promote its game, The First Descendant. Twitch streamer DanieltheDemon, who has over 78,000 followers, has released a public statement saying that he has nothing to do with the game and isn’t involved in its promotion.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
DanieltheDemon was prompted to release this statement following a new ad campaign that went live over the weekend. In one of those videos, a streamer that looks incredibly similar to DanieltheDemon praises the game. However, upon closer inspection, this appears to be a video made or edited with artificial intelligence (AI).
DanieltheDemon stated, “I have no affiliation nor contract with The First Descendant. They stole my face/reactions from my most viral video and used AI to change what my mouth says and a voice that isn’t mine. I did not consent for my likeness to be used.”
What This Means for Nexon Stock
It’s unclear what this means for Nexon stock. There’s been no talk about a lawsuit at this time, meaning the company might not face legal action over its alleged theft of DanieltheDemon’s appearance. However, the move could still earn it the ire of his fans, as well as the larger internet. With AI in its early stages, there are significant concerns about its uses. Using it to make someone say or support something they didn’t likely wouldn’t sit well with many.
As for Nexon stock, the shares were down 0.48% when the Tokyo Stock Exchange closed on Wednesday. Even so, the company’s stock has rallied 41.91% year-to-date and 11.83% over the past 12 months.
Is Nexon Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Nexon is Hold, based on one Buy and three Hold ratings over the past three months. With that comes an average Nexon stock price target of ¥2,952.80, representing a potential 22.57% downside for the shares.
