Nintendo shares hit new high boosted by ‘second wave’ concerns

A screen showing the characters from the Animal Crossing series video game is seen at a Nintendo store in Tokyo on June 10. Shares in Nintendo Co have climbed to a new two-year high. — AFP

Nintendo Co’s stock has found a 1-Up in an unexpected place.

Shares in the videogame maker have climbed to a new two-year high, driven by rising fears of a coronavirus second wave. With cases expanding worldwide including in the United States and China, the stock has broken out of its two-month plateau. Nintendo’s Switch console-handheld hybrid was one of the hit products during global lockdowns, buoyed by the success of laid-back social simulator Animal Crossing: New Horizons.