Pokemon GO Makers Market Cap Doubles to $42 billion
Shares of Japan's Nintendo Co soared another 14 percent on Tuesday, more than doubling the firm's market capitalization to 4.5 trillion yen ($42.5 billion) in just seven sessions since the mobile game Pokemon GO was launched in the United States.
The phenomenal success of Pokemon GO - now available in 35 countries, the majority in Europe, and most recently in Canada - has triggered massive buying in Nintendo shares, surprising even some seasoned market players.
"I've never seen the trend of such a big company's shares changing so quickly in such a short period of time," said Takashi Oba, senior strategist at Okasan Securities.
Nintendo shares ended Tuesday up 14.4 percent at 31,770 yen, bringing its gains to more than 100 percent since the launch of the game on July 6.
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