Stakes are high for Switch 2 after Nintendo’s stock valuation surges

Nintendo shares have soared to a series of records in anticipation of its Switch 2 console, making the upcoming reveal of the gadget’s details a potential watershed. The stakes are high for the unveiling of the console on Wednesday, with the stock trading near its priciest level in seven years. The pressure to impress with the device and related games has ramped even higher on concerns that Donald Trump’s tariffs may drive up the Switch 2’s price.

Shares have climbed about 25% in the past 12 months, far outperforming Japan’s Topix benchmark and briefly pushing the firm’s market capitalization above $100 billion for the first time. Short interest has spiked in recent weeks, as some investors bet on a decline..