Pokemon GO Doubles the Nintendo price stock`s
Millennials just got 150 more reasons to walk around staring at their cellphones as Pokemon GO takes the world by storm.
The release of “Pokemon Go” has been at least a temporary reprieve for Nintendo, which had struggled as the shift in gaming to mobile devices ate into its highly successful handheld game machine business.
Pokémon Go was released in Australia, New Zealand and the US on July 6. But Nintendo’s share price rally began in earnest the following day, when traders and investors in Asia started to see the snowballing interest in the game as US players pushed the game to the top of iOS and Android charts.
The analyst sees Pokemon GO as "unlikely to materially impact on Nintendo's financials," but believes the game is a "leadoff hitter" in the category that could herald a "transitional/watershed year" in the offing for the company.
Last week, the stock rose 70.7 per cent, its largest weekly gain since at least 1983 and its market capitalisation had grown enough to place it within the top 20 companies in Japan, even though there are concerns about just how much money the company will actually reap from the game.
Shares of Nintendo Co. Ltd., which owns a stake in the studio that developed the game, have gone parabolic in recent sessions, adding more than $7 billion to the company's market value.
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