Nintendo shares jump as Covid-19 gaming explosion continues

In a nutshell: While many businesses are suffering in the wake of the lockdowns, one industry that has thrived is the video game sector. With investors betting on more people turning to gaming as other activities struggle with Covid-19 restrictions, Nintendo has seen its market value rocket.

The Financial Times reports that Nintendo is currently valued at around $62 billion, more than Japan’s biggest bank, retailer, and chemical company. Analysts say the valuation reflects the possibility that Nintendo will have sold more than 75 million Switch units by the end of the current financial year—March 2021.

Nintendo’s share price has been on the up for some time now, and with yesterday’s 2.8 percent jump, it passed $467 for the first time since the release of the Wii in 2008. The latest increase comes as the company is expected to soon reveal its holiday season gaming lineup.

Even four years after release, Switch consoles are proving popular. The recent high demand combined with supply issues has left many consumers disappointed, forcing them to pay inflated prices charged by resellers. It’s also seen more cheap Switch-lookalikes hit the market. Should the 75 million unit sales prove accurate, it would put the hybrid’s lifetime sales around the same level as the 3DS family.

Nintendo shares jump as Covid-19 gaming explosion continues 1

David Gibson, of Astris Advisory Japan, said in a note to clients that while the pandemic has been beneficial to Nintendo—thanks to more digital downloads and people playing games—the market could cool slightly as lockdowns ease and children return to school. On the other hand, it also means game manufacturers can return to full production.

If you’ve got a Switch and would like a free exercise game, Nintendo is giving away Jump Rope Challenge until the end of September.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

Crypto casinos
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin49,194 0.14 % 0.40 % 14.05 %
Ethereum4,183.4 0.77 % 0.15 % 2.49 %
Binance Coin571.13 0.24 % 1.95 % 6.59 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana189.75 0.18 % 0.39 % 5.34 %
Cardano1.340 0.10 % 0.75 % 15.87 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
XRP0.7939 0.07 % 1.74 % 17.89 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Terra64.93 0.30 % 7.36 % 29.94 %

Bitcoin (BTC) $ 49,247.00
Ethereum (ETH) $ 4,190.80
Binance Coin (BNB) $ 572.22
Tether (USDT) $ 1.00
Solana (SOL) $ 190.61
Cardano (ADA) $ 1.34
USD Coin (USDC) $ 1.00
XRP (XRP) $ 0.795329
Polkadot (DOT) $ 27.25
Terra (LUNA) $ 65.30