NTDOY - The Mario Movie Just Crushed Box Office Estimates: Here's What It Means for Nintendo Stock
2023-04-19 08:15:00 ET
A family friendly frenzy was set off at the box office last week when the The Super Mario Bros. Movie was released in theaters worldwide. Produced by Nintendo (OTC: NTDOY) in a partnership with Illumination and Universal Studios, the mustachioed plumber and his cast of friends hit the big screen for the first time in decades and immediately started breaking box office records. Investors took notice, sending shares of Nintendo up close to 10% over the last month.
Nintendo has made a great leap outside of just producing video games with this hit new Mario film. But what does that mean for the stock?
Dropped on Easter weekend, The Super Mario Bros. Movie entered the market at a perfect time for its family focused audience. The movie opened with $377 million worldwide, which is now the best opening weekend for an animated movie ever, beating out Frozen 2 's $358 million haul. And this is without showings in Nintendo's home market in Japan, where the movie releases at the end of April. Add the Japanese box office into the mix, and opening weekend box office sales will likely reach well north of $400 million.
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The Mario Movie Just Crushed Box Office Estimates: Here's What It Means for Nintendo Stock