Nintendo Stock Rises by 11 Percent, Highest Gain Since 2008
Stock is currently valued at 11,850 Yen.
Despite all the doom and gloom surrounding the Wii U console, Nintendo’s stock rose considerably. This too is in the face of the Japanese yen reaching a three-year low against the Euro currency.
According to BusinessWeek, Nintendo, which depends on Europe for one-third of its sales, saw it’s stock soar by 11 percent to 11,850 Yen. This is the stock’s biggest gain since 2008, surprisingly enough.
Given all the criticism that has surrounded the Wii U, with developers and analysts suggesting a price drop but Nintendo steadfastly refusing, one may wonder whether any of it is warranted. Of course, stock market prices aren’t always the best indicator for success. Even Facebook had some pretty high prices when it went public. And we know how that turned out.
Nonetheless, the Wii U is a completely different beast in a completely different market. With the next Xbox and PlayStation 4 on the horizon, it remains to be seen whether Nintendo can step up and deliver with its games when the next generation is fully upon us.