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News Nintendo NX Reveal Announcement Causes Jump in Shares

News Bot Oct 20, 2016

  1. News Bot

    News Bot Chaos Immortal

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    Following the announcement that Nintendo will show off its next gaming platform, codenamed NX, later today, the company's share value has increased by 4.6 percent.

    According to Bloomberg, this has resulted in $1 billion being added to to its market value.

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    Image via Bloomberg

    In July, Nintendo's share value jumped by 86 percent in just over a week thanks to Pokemon Go, which was developed by Niantic and The Pokemon Company. This resulted in a $17 billion increase in Nintendo's market value.

    This rise didn't last for long, however. As the popularity of Pokemon Go plateaued the company's share price took a dive, dropping about 18 percent. This was reportedly the biggest drop for Nintendo since 1990.

    Nintendo has confirmed it will broadcast new details about NX at 7 AM PT/10 AM ET/3 PM BST. Little is known about what we'll see, but Nintendo has confirmed it will come in the form of a three-minute trailer.

    The NX was rumored to be a console/handheld hybrid, that will use cartridges instead of discs. Nintendo's website has update with information about its reveal event and describes the NX as its next "home" gaming system.

    Nintendo has previously NX will launch in March of 2017 and The Legend of Zelda: Breath of the Wild will be available for it.

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