Nintendo Stock Gone Up 20% Following The Launch Of Nintendo Switch
Nintendo’s latest hybrid console, Nintendo Switch, has been very successful which also outsold both PS4 and Xbox one for the month of March. Not only the console is the best selling console in the history of Nintendo but with the launch of the console Nintendo stock has also gone up 20%.
As reported by BusinessInsider, Nintendo stock went 20% up and the shares went up 5.4% this week following the company revealing its extended list of upcoming game releases for Nintendo Switch. According to the report, Switch has been a huge success, surprising analysts across Wall Street.
Nintendo Switch smashed the launch weekend sales record for a Nintendo console with 330,637 units sold in Japan. Additionally, Nintendo had its biggest ever launch month with 2.4 million consoles shipped, according to Goyal, citing independent market research firm SuperData.
While Nintendo Switch has been a huge success among gamers, the developers are also praising the console for its portability. According to CEO at Sixfoot, Christian Svensson, Nintendo Switch has the ability to recapture the audience of Wii and Nintendo Switch is the best portable system that has ever been.
I think that the Switch has the ability to recapture some of the Wii magic in a couple of different ways. But a lot of it has to do with the fact that it’s a 2-in-1 system. The fact that it is trying to be a portable and a home console all in one package — first of all, it’s an easy sell from a value for money family purchase standpoint. You know, I just think that if you looked at it only as a portable system, it’s probably the best portable that has ever been.
Furthermore, another report is making rounds on the internet suggesting that Nintendo might launch a Switch mini. According to a report from Citigroup, despite Nintendo Switch being a hybrid console, it is still quite large for children and this could result in Nintendo releasing a Switch mini in FY2018.