Nintendo adds another US$3bil as Robinhood traders press play

Nintendo has been one the strongest-performing blue-chip stocks in Japan this year, as the pandemic and its Animal Crossing: New Horizons game helped boost the already high popularity of its Switch console. — Bloomberg

Nintendo Co added another US$3bil in market value in Tokyo on Aug 24 with retail investors on the Robinhood app cited as helping to further boost the game maker’s popularity.

Nintendo has been one the strongest-performing blue-chip stocks in Japan this year, as the pandemic, together with the release of its smash-hit Animal Crossing: New Horizons game, helped boost the already high popularity of its Switch console. Shares are up more than 70% from their March low, and have hardly looked back since passing the ¥50,000 (RM1,976.70) barrier in June, with earnings earlier this month blowing past all estimates and Nintendo software continuing to dominate sales rankings in Japan.