Nintendo Co.’s nostalgia train has left the station and is chugging along — and sending Nintendo stock prices to sky-high levels.
Just days after the launch of its ” Pokemon Go” game (and ensuing stock surge), the Japanese company announced its Nintendo Entertainment System (NES) will return to store shelves Nov. 11. Its suggested retail price will be $59.99. It will come with 30 games like Super Mario Bros, Donkey Kong, The Legend of Zelda and more.
The NES is coming back to stores! Pick up the new mini NES Classic Edition on 11/11 w/ 30 included games! pic.twitter.com/wFDw7lHWb7
— Nintendo of America (@NintendoAmerica)
The system, which originally entered North America in 1985, is a close to identical mini replica of the device, according to a news release. Users can plug it into high-definition TVs with an HDMI cable, and buy a second NES Classic Controller for $9.99. This controller also can connect to a Wii remote controller for playing virtual console NES games.
Nintendo stock closed nearly 16 percent higher today on the Tokyo exchange, and has shot more than 70 percent higher in the last week on the strength of the Pokemon Go craze. In U.S. markets, Nintendo trades on the over-the-counter exchanges and was 15 percent higher at the opening bell today. It has risen nearly 80 percent in the last five trading days.
Much like the return of General MIlls’ (ticker: GIS) French Toast Crunch and the revival of “Full House” on Netflix (NFLX), companies are appealing to nostalgic millennials to boost attention (and ultimately, make a profit) to products and content.
The millennials have spoken in droves about ” Pokemon Go” — surpassing social media brands in its wake, like Tinder, reports Fortune.
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Nintendo Entertainment System Returning to Shelves originally appeared on usnews.com
