Jul 19th, 2016

Nintendo is now more valuable than Sony, thanks to Pokemon Go

Pokemon Go is a bonafide phenomenon right now. Millions of players worldwide are participating, and it has sent Nintendo’s shares soaring over the past few weeks — the stock price has doubled in just two weeks, and yesterday it was the most traded stock in one day in Japan’s history.

It’s going so well for the company on the stock market in Japan that Nintendo is now valued more than Sony. Not only that, it’s now the most valued tech company in Japan.

Nintendo’s market worth is now $42 billion. A month ago, it was barely $20 billion.

While Nintendo stock is now at $35 a share, it’s just half of what it was during the peak of the Wii, where shares topped $70 in 2007.

Tomorrow, the Pokemon Go craze will hit Japan as the game launches there to much anticipation.

local_offer    Nintendo  pokemon go  wii u