Wednesday, 20 July 2016

'Pokemon Go' More than Doubles Nintendo's Stock Price

Shares in the Japanese game maker closed up 14 percent at 31,700 yen (USD 300) on the Tokyo Stock exchange and have more than doubled in value since the wildly popular augmented-reality game was launched on July 6. 

Nintendo accounted for nearly one in four shares that changed hands on the TSE's main board. The sharp rise has doubled the Kyoto-based company's market capitalization to 4.5 trillion yen (USD 42.4 billion). 

"Pokemon Go," a smartphone app that uses Google Maps to overlay reality with Pokemon creatures, was developed by Niantic, a Google spinoff that Nintendo Co. invested in last year. The game has yet to be released in Japan and most of Asia.


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