Yesterday Nintendo announced plans to partner with DeNA to release mobile games, promised a new membership program, and teased new gaming hardware. The response was incredibly positive, as Nintendo’s stock jumped as much as 30% at one point. Today Nintendo’s stock jumped another 21% (it’s up 62.09% overall from five days ago), pushing the company’s market cap to $17.3 billion.
This puts Nintendo’s value at its highest point since July 2011, which is when Nintendo announced a massive price cut to 3DS due to poor sales. Nintendo recorded operating losses in three consecutive years, but they’re on pace to turn a profit this year and their plans to release mobile games have given them a massive stock boost.
Source: CNN Money