Pokemon Go Doubles Nintendo’s Stock Price

An anonymous reader quotes a report form Reuters: Shares of Japan’s Nintendo Co soared another 14 percent on Tuesday, more than doubling the firm’s market capitalization to 4.5 trillion yen ($42.5 billion) in just seven sessions since the mobile game Pokemon GO was launched in the United States. The phenomenal success of Pokemon GO — now available in 35 countries, the majority in Europe, and most recently in Canada — has triggered massive buying in Nintendo shares, surprising even some seasoned market players. Nintendo shares ended Tuesday up 14.4 percent at 31,770 yen, bringing its gains to more than 100 percent since the launch of the game on July 6. Turnover in Nintendo shares hit 703.6 billion yen, surpassing the record for trading turnover in individual shares it set on Friday, of 476 billion yen. Trading in Nintendo shares roughly accounted for a quarter of the entire trading on the Tokyo Stock Exchange’s main board. The success of Pokemon GO, unforeseen even by its creators, has boosted hopes that Nintendo could capitalize on a line-up of popular characters ranging from Zelda to Super Mario to strengthen its new foray into augmented reality. Pokemon GO is now the biggest mobile game of all time in the United States.


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