Nintendo stock price rockets

Analysts speculate that the Sony PSP's "disappointing" TGS showing--and lack of a fixed price point--may be causing investors to flock to Nintendo.

Even though the company was a TGS no-show, Nintendo's stock price shot up early this week, reports Bloomberg Japan. Nintendo's share price rose 2.1 percent, or 260 yen, to 12,760 yen on the Monday following Tokyo Game Show. Financial analysts in Japan are debating whether the rise in share price was directly influenced by the events of Tokyo Game Show or simply coincidental.

KBC Securities' Hiroshi Kamide noted that investors might have simply been looking for something stable to buy. "Nintendo's shares are probably being purchased as defensive stock, a stock that tends to remain stable during difficult economic conditions, since the company's performance is stable and the market is hitting a low," he said.

News source: GameSpot

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