The stock price of Japanese game maker Nintendo Co. has more than doubled since the launch of the wildly popular augmented reality game >‘Pokemon Go’ on July 6.
Nintendo rose 14 per cent in heavy trading Tuesday on the Tokyo Stock Exchange, closing at 31,700 yen ($300). The Kyoto-based company accounted for nearly one in four shares that changed hands on the TSE’s main board. The sharp rise has doubled its market capitalization to 4.5 trillion yen ($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 invested in last year. The game has yet to be released in Japan and the rest of Asia.
