Nintendo Shares Soar on Pokemon Go Popularity
It might not be out worldwide yet and revenue totals haven’t been tallied but Pokemon Go is already a smash hit for Nintendo. In the two business days since Nintendo’s latest mobile game was launched, their stock has climbed over 30% and added $7.5 billion to the value of Nintendo.
Last Friday saw Nintendo’s stock climb 8.9% and then another 24.5% during Monday’s trading to see Nintendo’s share price reach $199.70 USD (¥20,260).
Analysts expect the game to help boost Nintendo’s share price further as it is launched in more markets. So far, the game is available in the US, Australia and New Zealand. The game’s Japanese launch is expected this week which will also be a considerable boost to the game’s player base and revenue.
An analyst for Morgan Stanley estimates that the game’s launch day revenue is between $4 to $5 million. Keep in mind that’s for a small number of countries with the likes of Canada, the UK and most of Europe still waiting for the game to officially reach their country as developer Niantic tries to manage the server load. That same analyst believes that the top mobile game, Game of War, does about $136 million in monthly revenue so early pace could make Pokemon Go the top mobile game on the market.
Pokemon Go is the second game in Nintendo’s move into the mobile market after ignoring mobile games to its detriment. They previously released Miitomo to little fanfare. Fire Emblem and Animal Crossing games are in development as part of Nintendo’s target to have four more mobile games released by the end of March 2017.