Nintendo shares hit a new record "thanks to" a concern that Covid-19 broke out a second time || Nintendo Shares increases to 49,000 yen

Nintendo's stock hit an unexpected high: it hit a new record in two years, due to concerns about an outbreak of the coronavirus.

With the number of positive cases being expanded worldwide, including the US and China, Nintendo's stock has been out of a standstill in the past two months. The Nintendo Switch handheld console was one of the hit products during the blockade, most notably the Animal Crossing: New Horizons game.

Katsuyuki Fujii, an analyst at Asunaro Investment that "their shares have been struggling for the past two months as demand for shares at home has declined due to re-opening the economy and removing emergencies in Japan, but as worries about the coronavirus outbreak return to everyone, people are getting a different view of those stocks ."

These stocks are close to their 12-year highs, with an extremely important 50,000 yen milestone. The shares were trading at 48,510 yen at 12pm yesterday, in Tokyo time. The last time these stocks reached the same level was in January 2018, with 49,980 yen, but since then, they have never touched this level.

Analyst Haruka Mori at JPMorgan predicts on June 10 that Nintendo's stock will increase 18% to 52,000 yen, as demand growth related to COVID-19 does not seem temporary. "We believe that the COVID-19 pandemic has expanded the opportunity to make money for the Nintendo Switch platform in addition to special needs," Mori said.

Despite the lack of short-term causes for a stock rally, Nintendo has medium-term opportunities - Mori said in a note, offering catalysts for 2021, which may be models. New switch, discount the current versions and promote cooperation with Tencent Holdings in China.

Ironically, the rest of Nintendo this year is nothing short of amazing, with no major titles planned to be released. This is despite both Sony and Microsoft preparing to release their next PlayStation and Xbox consoles during the holiday season this year. Sony announced more than 20 new titles when it first launched PlayStation 5 last week, while Microsoft released dozens of titles for Xbox Series X in May.


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