The recent surge of interest in mobile augmented reality game Pokemon Go has helped Nintendo to double its share price, being now worth more than rival company Sony.
According to Nintendolife, since the application Pokemon Go has been launched Nintendo shares jumped by 120 percent. On Tuesday, July 19, the game developer's shares jumped by another 12 percent.
Since release of the game, $23 billion (2.5 trillion Yen) has been added to Nintendo's value. Now the company has a market value of $42 billion (4.5 trillion Yen).
On the other side, Nintendo's rival Sony has enjoyed success this year with its PS4 console, while Nintendo's gaming console Wii U has struggled. However, thanks to the success enjoyed with the Pokemon Go mobile game, Nintendo's market value is bigger than Sony's $38 billion (4.1 trillion Yen). Since July 2014, this is the first time when Nintendo has topped Sony in overall value.
Market analysts also noted that Nintendo broke a Japanese stock market trading record last Friday. The Pokemon Go craze helped Nintendo to become the most traded stock in Japan's market history. Nintendo registered the biggest value of shares traded in a single day, in a single company. Within 24 hours, an impressive amount of 476 billion Yen of Nintendo shares have been traded.
According to Mashable, the shares of Nintendo have rose almost immediately after the Pokemon Go augmented reality game has been released. After the popularity of the mobile became apparent, Nintendo's shares skyrocketed.
From the Pokemon GO's success benefits more market players than just Nintendo, company that owns 32 percent of The Pokémon Company. Game Freak, the developer of the original games and Creatures, the company that handles the games, have also benefited from the game's success. However, the two companies are privately owned and their stocks are not traded publicly.
