Wii anticipation drives Nintendo stock price to six-year high
Even though Wii has yet to launch (read: unproven), consumer and industry confidence in the console has driven Nintendo's stock price to a six-year high at just over $26. Investment bank Merrill Lynch raised its target share price of Ninty stock from $25 to $29 last Friday citing high anticipation for Wii as the reason for the price hike. If line graphs, volume charts, and share prices bore you, this basically means that Nintendo stock is rising while peeps wait to see if the company can deliver the motion-sensing goods.
In contrast, Sony's stock price took a sharp drop in May [enter Sony E3 press briefing joke here] while Nintendo shares experienced a spike and continued growth ever since.
