At the close of Tokyo trading yesterday, Nintendo's share price finished up at the highest it has been in two years, thanks to strong Nintendo 3DS sales.
According to Bloomberg
, Nintendo's share price jumped 4 percent to 14,050 yen ($141.23) on Monday, thanks in part to the recent release of Animal Crossing: New Leaf
Takashi Oba, a senior strategist at Okasan Securities Co., told Bloomberg that he believes the reported console ban lift in China
has also played a part in raising Nintendo's valve.
"The stock is up from mixing all these factors," Oba said, adding that, "The stock is in a upward trend."
And the Mizuho Financial Group, a banking holding company based in Tokyo, said that it has raised its estimated price target for Nintendo, citing strong Nintendo 3DS sales.
Back in 2011, Nintendo was reeling from a large drop in share price
following the reveal of its Nintendo Wii U, as analysts said they were sceptical about the potential success of the new console.