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Nintendo Stock Rises In The Wake Of Mobile Announcement
Nintendo has been contending with the rising mobile market for years, and today's announcement of its partnership with DeNA has apparently renewed some confidence in the company and its vision for the future.
After closing at 14.29 yesterday, the stock for Nintendo (NTDOY) jumped this morning when the big news hit. As of press time, the value is 18.99 – up 32.89 percent.
Take a look at the graph yourself and try to guess when the announcement happened.
[Source: CNN Money]
Our Take
Investors have been voicing concerns about Nintendo and its response to mobile gaming for years – especially considering the company's previously unyielding stance on entering the market. This response is likely what investors have been hoping to hear from the company, explaining the skyrocketing stock value.
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