Pokemon Go app add’s $9 Billion worth of market value to Nintendo Co.
The Wall Street Journal reported this morning that Nintendo’s shares went up 25% in Tokyo trading Monday following raises Thursday and Friday, giving Nintendo a market capitalization of nearly $28 billion. Nintendo and Niantic Inc., own 32% of the new app with the Pokemon Company.
In less than a day Pokemon Go became the most downloaded and highest grossing app in the countries it became available in. It has also been trending on social media sites like Facebook and Twitter with people of all ages playing and talking about Pokemon Go.
Later this month Nintendo will release an optional $35 portable device called Pokemon Go Plus that will help players catch Pokemon in the new game.
The recent success of Pokemon Go could mean more success for Nintendo in smartphone games. Nintendo with DeNA Co., will be releasing Animal Crossing and Fire Emblem for smartphones later this year.