Pokemon Go Drives Nintendo’s Shares up

Pavel Alpeyev and Yuji Nakamura, reporting for Bloomberg:

The company has added more than $7 billion in market value since last week’s debut of a new smartphone app for its Pokemon fantasy monster character franchise. The game, which lets users track down virtual monsters in their vicinity, has topped the free-to-download app charts for Apple in the U.S. and Australia since its release on July 7, according to market researcher App Annie.

Nintendo’s shares responded with their biggest intraday jump since at least 1983, when the stock started trading in Tokyo, climbing as much as 25 percent on Monday. Investors are taking Pokemon’s early success as a sign of things to come for a company that has yet to commit the most popular characters from its Mario or Zelda franchises to mobile gaming apps.

Top-grossing app in the App Store, and the topic of the week (lighthearted topic, at least) on social media.

This is a nice step towards Nintendo finally moving into the mobile game market and away from their own hardware, hopefully we’ll see other games moving towards this as well.

Source: http://www.bloomberg.com/news/articles/2016-07-11/nintendo-s-pokemon-hit-gives-early-taste-of-smartphone-success