Stock holders are loving the move.
The Nintendo Switch has seemingly been an unstoppable sales machine ever since the system launched in the unorthodox time slot of March 2017. Nintendo has enjoyed some of its best software and hardware sales with the Switch since the Wii. They are looking to go even further beyond that with a new Chinese market release with partner Tencent. While it’s uncertain how the system will actually do, at the very least stockholders are loving the move.
The Switch launched only yesterday in mainland China, but already the move had a big impact on the company’s stock price. As reported via CNBC, stock peaked at ¥46,990 ($433) in Tokyo on Tuesday, its highest intraday level since May 9, 2018. The stock closed at ¥46,370 ($427), its highest close since March 30 last year.
It doesn’t mean a lot, since stockholders tend to be overly reactive to things, but if Ninendo can manage to get a foothold in the Chinese market, it could mean a new, major market for the company. Some are already predicting that the Switch will be the next system to break a 100 million sold units, and being big in China would certainly help.