Thursday December 7, 2023

Nintendo, Sony Stocks Riding High On Console Sales

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Wrapping up video game consoles could be difficult this holiday season, but it’s to the benefit of manufacturers.

Both Nintendo and Sony hit record prices on the Tokyo Stock Exchange Thursday, fueled by the demand for their consoles, the Switch and PlayStation 5, respectively.

  • Nintendo shares jumped 6.6% Thursday, surpassing its highest level since 2007
  • Sony was worth more than $97 per share for the first time since 2001

Nintendo released the Switch in 2018 and has topped sales charts for 24 straight months, including in November when Sony and Microsoft debuted next-generation consoles. Sony’s more expensive PlayStation 5, however, generated the most revenue last month.

All three stocks are on the rise in 2020:

  • Nintendo — up 62% this year
  • Sony — up 40% this year
  • Microsoft — up 36% this year

Scarcity has been an issue for Sony and Microsoft since their new consoles hit the market. Consumers are buying up units as soon as they’re available, and online bots are targeting the products for scalpers as well.

Resellers are in turn charging up to $1,400 for the consoles, and scalpers made an estimated $35 million selling marked-up PlayStation 5 units at launch.

Walmart alone said it blocked over 20 million bot attempts to purchase a PlayStation 5, but that doesn’t appear to be enough to control the issue.

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