Share: twitterTweet facebookShare

Pokémon Go Doubles Nintendo’s Market Cap to $42 Billion

Share: twitterTweet facebookShare

Intendo shares

According to a Reuters report, Nintendo’s shares have more than doubled since the launch of Pokémon Go in the United States. The Japanese firm’s shares soared another 14% today, more than doubling the firm’s market capitalization to $42.5 billion in just seven sessions since the smash-hit game’s initial launch over a week ago. Nintendo shares ended Tuesday up 14.4% at 31,770 yen, bringing its gains to more than 100% since July 6.

The phenomenal success of Pokémon 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. “I’ve never seen the trend of such a big company’s shares changing so quickly in such a short period of time,” said Takashi Oba, senior strategist at Okasan Securities.

The success of Pokémon Go 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. While augmented reality has been a focus of the market but hardly anyone was expecting Nintendo in this area. “Suddenly Nintendo has become an AR-related stock,” said a fund manager at a Japanese asset management firm.

Watch the Latest Apple Technology News Below

Turnover in Nintendo shares hit 703.6 billion yen, surpassing the previous record for trading turnover in individual shares of 476 billion yen.

Share: twitterTweet facebookShare