What a Run. Nintendo Inc (OTC:NTDOY) stock has experienced an absolutely wild 2016 thus far. The stock had been in the doldrums for some time, trading nearly flat from 2011 up until mid 2016.
Then Pokemon Go happened, a viral craze that popped up virtually over night and eventually amassed over 500 million downloads in less than 2 months. In early July Nintendo traded in the mid 17 levels and quickly jumped to a high of 37.37 by July 18th , a remarkable 113% gain for a mid cap stock.
Nintendo then curbed expectations after it was realized that their stake in Pokemon Go’s creator Niantic Lab sat around 10%. The stock sharply dropped to mid 20 levels.
Then Apple’s iPhone 7 Keynote Event Happened.
At the event held in San Francisco today, Tim Cook announced that the app store has generated over 140 billion downloads and that many developers look to the <b> Apple Inc (NASDAQ:AAPL) </b> Store as the go to platform to release their apps.
Cook mentioned that someone was missing however, and brought out Nintendo’s Head Chief of Design Shigeru Miyamoto to announce Super Mario Run for IOS which will launch in December.
Shortly after, Apple announced that Pokemon Go would be available in the newest Apple Watch release. The first half of the keynote speech was looking as much of an event for Nintendo than it was for Apple. The stock expectedly reacted and surged over 25% percent during the Keynote event.
Nintendo is trading back at Pokemon Go levels and with a rerelease of its classic NES console, Nintendo fans and investors now have a lot to look forward to.