Nintendo Soars 55% In Four Days As Pokemon Go Mania Grips Gamers
Pokemon Go's success has boosted shares of video games giant Nintendo Nintendo soared 16% today, taking the weekly gain in the stock to 55.5% Nintendo's market cap has risen by over $10 billion or Rs 70,000 crore
The huge success of Pokemon Go, a mobile game that has rocketed to the top of Apple Inc and Android app stores in record time, has boosted shares of Japanese video games giant Nintendo.
Nintendo shares soared 16 per cent today, taking the overall gain in the stock to 55.50 per cent, over four days. Pokemon GO was released on Friday.
The huge jump in shares of Nintendo has added over $10 billion (more than Rs 70,000 crore) in the market cap to the Kyoto-based company.
Investors are cheering the success of Pokemon Go as a good sign for Nintendo's push into mobile gaming.
"The expectation is that Pokemon Go's success will contribute to the success of Nintendo's other original games, and even to the success of its next game console," SMBC Nikko Securities analyst Eiji Maeda told AFP.
But "the share price is reaching its upside limit".
Data analysis company SurveyMonkey revealed on Wednesday that Pokemon Go is the most successful mobile-based app in US history with some 21 million daily active users in 24 hours, exceeding the successes of 'Draw Something' and 'Candy Crush', with some 16 million and 20 million users respectively.
Pokemon Go, developed by Niantic Inc. and distributed by Nintendo, is currently available in the US, Australia, New Zealand and Germany.
(With agency inputs)
