As you all know, Sony Interactive Entertainment revealed the PlayStation 5 on June 11, 2020.

Despite the announcement of the PlayStation 5, it did nothing to stop investors from losing confidence in Nintendo, whose Nintendo Switch is a competitor to the PlayStation 5.

Since June 10, Nintendo has seen its share price increase from 45,300 yen to 47,000 yen. The PlayStation 5 announcement, which happened in the wee hours of June 12, did nothing to stop Nintendo’s share price from increasing to 47,600 yen:

Many Japanese commentators are scratching their heads, as they couldn’t understand why Nintendo stock suddenly increased this week, as there were no major announcements made by the company. Many speculate the strong success of Animal Crossing: New Horizons is leading to increased confidence in Nintendo.

What do you think?