Nintendo Shares Jump 6% As 'Splatoon 3' Makes Blistering Switch Debut In Japan

Nintendo Shares Jump 6% As 'Splatoon 3' Makes Blistering Switch Debut In Japan

Shares of Japanese multinational video gaming company Nintendo Co., Ltd NTDOY surged close to 6% in intra-day trade in Japan after its family-friendly online shooter game Splatoon 3 became the biggest Switch debut with 3.45 million units sold in the Asian country over its opening weekend, reported Bloomberg.

Also Read: Nio Surges 18% On Upbeat Analyst Coverage: Hong Kong Stocks Mixed As Xi-Putin Meeting, US Inflation Data In Focus

The long-awaited release ranked number 1 in initial domestic sales of any Switch title, surpassing Animal Crossing: New Horizons’ 1.88 million units, the report said. Animal Crossing had given a major boost to Nintendo’s software sales during the COVID-19 pandemic and helped maintain hardware demand for the platform, it said.

Analyst Take: Citi analysts Junko Yamamura and Sachiho Uzaki said sales volumes of new Nintendo titles were running ahead of their forecasts on almost every occasion, the report said citing an analyst note. “As things stand, any negative impact on games demand from a North American recession has been limited,” it said.

Posted In: EurasiaJapanNintendo SwitchSplatoon 3Analyst ColorAsiaGamingNewsMarketsAnalyst RatingsMoversTechMediaTrading IdeasGeneral