Square Share Price Leaps Following Nintendo News
Final Fantasy N prompts unprecedented increase in value.
SquareSoft of Japan has seen its share price soar following the announcement that it will be creating Final Fantasy games for both of Nintendo’s current platforms, the portable Game Boy Advance and the GameCube home system.
Shares in SquareSoft have risen by over 17% in the past 48 hours, with further increases expected. An unprecedented 352,300 individual share units have changed hands since the announcement was made.
“By making games for GameBoy Advance, Square’s domestic game demand can be estimated at about 1.6 million units and 2.5 million overseas,” said Noriko Manabe, an analyst at JP Morgan Securities, Asia Ltd., who yesterday raised the company's rating to ‘buy’ today from ‘market perform’.
Shares in SquareSoft have risen by over 17% in the past 48 hours, with further increases expected. An unprecedented 352,300 individual share units have changed hands since the announcement was made.
“By making games for GameBoy Advance, Square’s domestic game demand can be estimated at about 1.6 million units and 2.5 million overseas,” said Noriko Manabe, an analyst at JP Morgan Securities, Asia Ltd., who yesterday raised the company's rating to ‘buy’ today from ‘market perform’.
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