Nintendo’s stock surges to 12-year high on Pokemon and concerns of ‘second wave’ – The National

Nintendo’s stock surges to 12-year high on Pokemon and concerns of ‘second wave’ – The National

In Beijing and increasing in the US, the prospect of more lockdowns has helped boost the shares out of two-month plateau. Shares in the videogame maker climbed 2.7 per cent in Tokyo Thursday, lifting the stock past the 50,000 yen (Dh1,719/$468) barrier for the first time since September 2008.. Shares have in recent days been driven by rising fears of a coronavirus second wave, and were boosted further by the announcement of new Pokemon games for both Switch and mobile.. Nintendo's Switch console-handheld hybrid was a hit product during global lockdowns, sold out in many regions and was buoyed by the surprising success of laid-back social simulator Animal Crossing: New Horizons.. Shares hit an all-time high of 73,200 yen in November 2007, when the Wii was the must-have hit product.. "The shares have remained range-bound due to concerns over the lack of upcoming titles," Daiwa Securities analyst Takao Suzuki wrote in a note dated June 9 in which he raised his price target to 55,000 yen.. "We look for new title announcements and a surge in digital sales, other than those for Animal Crossing: New Horizons.". Sony announced more than 20 new titles when it showed off the PlayStation 5