Nintendo adds $ 3 billion more as Robinhood users hit Play

Inside the 2018 E3 Electronic Entertainment Expo

Photographer: Patrick T. Fallon / Bloomberg

Nintendo Co. added another $ 3 billion in market value in Tokyo on Monday with retail investors in the cite Robinhood app helping to further boost the player’s popularity.

Nintendo has been one of the strongest-performing performances of blue-chip in Japan this year, as the pandemic, along with the release of its smash-hit Animal Crossing: New Horizons game, helped the already high popularity of its Switch -console to stimulate. Shares are up more than 70% from their low in March, and have barely looked back since past the 50,000 yen barrier in June, with revenue earlier this month blew past all estimates and Nintendo software continues to push through dominate sales rankings in Japan.

The stock added another 4.8% on Monday, the largest gain since March 19, with Eiji Kinouchi of Daiwa Securities Co. and mentioned the impact of the stock’s popularity among U.S. retail investors.

Nintendo shares rose more than 70% from the lowest March

“Like Nintendo, Robinhood users like Sony Corp. and SoftBank Group Corp. have shares in Japan, but both have connections with China,” Kinouchi said in an interview. “Nintendo is one of the easiest Japanese stocks for Robinhood investors to buy amid concerns over tensions in the US-China.”

In an August 5 report with data from the no-stop Robintrack site, Kinouchi revealed that Nintendo was the second most-held Japanese share among Robinhood users, after Sony and ahead of SoftBank.

Monday’s gains also follow a report in the Taipei-based Economic Daily News that Nintendo could launch a new version of its Switch console early next year, with unidentified people in the supply chain in mind. A more powerful version of the console has been rumors in the past.