For Nintendo, “Pokemon Go” just keeps on giving.
Shares in the Japanese game maker closed up 14 percent at 31,700 yen ($300) in heavy trading Tuesday on the Tokyo Stock exchange, more than twice where they stood when 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 ($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 the rest of Asia.
The Associated Press contributed to this article.
audia nina says
Arthur Hartsock says
During the early 2000s I worked briefly for a Printing Company that printed Pokémon cards. These cards were very popular, especially with young people. And kids were always eager to get the newest Pokémon cards. So, enterprising devil that I was, I would sell a few of the cards before they were released. Just a few-didn’t want to end up in the Pokey (notice that play on words?). Just a few dollars to augment my small paycheck. I think the statute of limitations has passed. I appreciated the extra beer the money would buy.