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.
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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.