Strong 3DS sales lead to Nintendo's highest share price in 2 years

At the close of Tokyo trading yesterday, Nintendo's share price finished up at the highest it has been in two years, thanks to strong Nintendo 3DS sales. According to Bloomberg, Nintendo's share price jumped 4 percent to 14,050 yen ($141.23) on Monday, thanks in part to the recent release of Animal Crossing: New Leaf on 3DS. Takashi Oba, a senior strategist at Okasan Securities Co., told Bloomberg that he believes the reported console ban lift in China has also played a part in raising Nintendo's valve. "The stock is up from mixing all these factors," Oba said, adding that, "The stock is in a upward trend." And the Mizuho Financial Group, a banking holding company based in Tokyo, said that it has raised its estimated price target for Nintendo, citing strong Nintendo 3DS sales. Back in 2011, Nintendo was reeling from a large drop in share price following the reveal of its Nintendo Wii U, as analysts said they were sceptical about the potential success of the new console.