Thursday, July 14, 2016

'Pokemon Go' Drives Nintendo Shares Up

Pokemon Go
Japanese company Nintendo has figured out how to turn a 90’s era game into one of the hottest apps in the world. And it i reaping the financial rewards after investors are going bonkers.

Last 6 July, Nintendo launched "Pokemon GO" and it rocketed to become the No.1 free app in Apple's US iTunes store. Shares of Nintendo jumped over 20 percent in Japan as buzz over a mobile game called "Pokemon GO" went parabolic.

Of course, one game isn't going to be responsible for such a large price move in a multi-billion company, which has its legacy in gaming consoles.

"Despite the substantial success of Pokémon Go in the initial few days since its launch into only three countries, we still view Pokémon Go as a 'leadoff hitter' for Nintendo's foray into mobile gaming," Deutsche Bank's Han Joon Kim said.

"We view Animal Crossing and Fire Emblem, slated for fall 2016, and Zelda for mobile possibly coming in spring 2017, as the real big hitters to drive Nintendo to score high in mobile."

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