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Nintendo stock surges due to Pokemon Go

Nintendo stock surges due to Pokemon Go

In a surging wave of viral user enthusiasm, this company's fortunes took a dramatic uptick last week, breaking records along the way.

If you have some of this company's stock in your portfolio right now, you're in for a big surprise.

Nintendo's stock surged 71 percent last week, setting a record for the biggest daily stock turnover and the most traded Japanese stock since this century began, Bloomberg reports.

This is all due to the massive popularity of the company's mobile game, Pokémon Go. The viral hit has taken the nation by storm, taking Nintendo's long-standing console game out to the real world, where gamers attempt to capture virtual creatures in real locations.

Nintendo traded $4.5 billion worth of shares on Friday! Wow, that'll definitely buy you a lot of Pokéballs.

Nintendo Stocks

The company even beat out Japanese giants such as Nippon Steel, SoftBank and Tokyo Electric. Nintendo's market cap likewise rose to $37.3 billion, beating out other big name companies like Hilton, Hyundai and Tesla, as well.

This has effectively more than doubled their last market cap in their last earnings report last March, which was only pegged at a little over $17 billion.

This is welcome news for Nintendo, who has been recently struggling to reach the heights of success it achieved during the late 2000s with the Wii console. With the tepid response to the Wii console's successor, the Wii U, their sales and profits didn't generate as expected and their earnings took a slump.

Now, this may be the start of a turnaround and the shot in the arm that Nintendo needs before the planned release of their mystery next generation console codenamed Nintendo NX.

And what a historic shot in the arm it is!

Experts say that there are no signs of Pokémon Go slowing down in the near future and they believe Nintendo stocks may continue to rise.

Keep throwing those Pokéballs, people! The best for Nintendo is yet to come, it seems.

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