There’s happy news for Nintendo and all its fans today, as there has been confirmation of a substantial jump in Nintendo’s share price—over seven percent!—to bring it up to 10,330¥ (about $110).
Why are we seeing this surge? Sadly, the reasoning isn’t as exciting as we all wish. Instead of an announcement pushing the stock price upward, it has more to do with the Japanese Yen weakening—which is actually a good thing for trading/exporting on that side of the world. The increasing solidarity in the American job market and economic outlook have also played a role, as 39% of Nintendo’s overall sales are reported in the United States.
It’s worth noting that Nintendo wasn’t the only one to see their stock price rise—Sony also benefited from the situation, though their numbers didn’t jump as high as Nintendo’s.
The most recent financial results for Nintendo have shown a projected $150 million in overall profit for the company this year, despite some initial reports that made it sound like Nintendo was in a bit of financial hot water. The strong Yen played a large role in that, so the weakening currency arrives just in time to offset the negative reports and bring the company back into a positive light.
Nintendo isn’t going anywhere soon!
