The new and popular mobile gaming app "Pokemon Go" is making Nintendo's shares rise to 10 percent. Macquarie Securities noted that the game has more monetization than they expected.
The shares of the Japanese gaming company rose up recently as fans tried out their new mobile game, according to Reuters. This has given hope to the company that their investment in mobile gaming will finally give positive results. Their shares suddenly surged due to the fact that their latest mobile game title has become the number one free app in Apple's US iTunes store.
The cash equities broker said in a note obtained by the publication that the users of the popular mobile game tend to build their Pokemon inventory, which leads them to spend more money to make it better. The players want to have more space for storage, easy training for their Pokemon, hatching eggs, and battling opponents. They also note that the purchases so far in Australia were not due to big spenders, but by many users who spend money in the game.
Due to the sudden popularity of the mobile game, the game company's shares jumped to their highest level in more than two months. Their stocks are the most heavily traded by value on Tokyo's main board recently. The market value of their firm right now is about $23 billion.
In the past, the game company has tried to shy away from producing mobile games with its popular characters like "Super Mario Bros," and "Pokemon." Last year, they finally tried producing these games on the mobile platform when they announced a partnership with mobile specialist DeNA Co.
Their first mobile game Miitomo was launched last in March, but it was delayed and it was a social networking-style app. The investors were disappointed with the results and they were impatient for something better. With the launching of the new "Pokemon" mobile game, it finally gave results the gaming company needed.
The popular mobile game is available for Android and iOS devices in New Zealand, Australia, and the United States, according to Dual Shockers. The international releases have been paused for a while due to the numerous issues that were found.
Check out the mobile game's Get Up and Go trailer video below: