Nintendo stock hits record high, fueled by Switch successor hype
Didn't they just beat their own record?!
On the last date of trading for 2023, Nintendo’s stock reached its highest point in company history. This was due to the amazing success the Switch has seen, the millions upon millions of software units moved, and of course, the near-impossible popularity of The Super Mario Bros. Movie. Now, less than two weeks later, Nintendo has done it again.
Just today, Nintendo’s shares reached 7,902 yen, which is up 5% from yesterday, and marks the first time the Big N’s market capitalization topped 10 trillion yen since November 2007. For those wondering, the stock’s peak at the end of 2023 came in at 7386 yen. In other words, the new high from today managed to surpass the previous peak by a considerable amount.
As mentioned above, there are a number of reasons why Nintendo stock is doing so well. The Switch continues to move mountains, but it’s excitement about the future that’s doing the real heavy lifting. Not only are analysts and investors excited about Switch’s successor, they have high hopes for the upcoming Legend of Zelda live-action movie, and there’s also talk of more Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), grabbing a bigger stake in Nintendo.
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winnie_the_shite
7M agoSaudi Arabia's public fund gaining more Nintendo is real concerning. They're up at almost 9% ownership of the entire company - they've been aggressively buying in for a couple of years now to increase their position from almost nothing. They're the single largest shareholder already and they're still buying, soon they're going to have the controlling stake and imo at that point, Nintendo might actually be over.
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