Mercari Shares Volatile Amid Pokémon Card Restrictions
Shares of Japanese online marketplace Mercari experienced significant volatility following restrictions placed on listings for Pokémon's 30th anniversary products. The stock fell more than 6% when the restrictions took effect but rebounded with a 1.4% gain Thursday and over 4% Friday, outperforming the Nikkei 225 index. Mercari cited concerns about trading disputes and user harassment due to increased demand for Pokémon cards as reasons for implementing temporary listing bans. Citibank noted that while the restrictions were negative for Mercari's short-term performance, they did not warrant a revision of its forecasts. The bank described shares as 'oversold' and suggested it was an investment opportunity. Meanwhile, global interest in Pokémon trading cards remains high, with eBay reporting over six million searches on its U.K. site alone. The surge in demand for Pokémon cards has led to significant price increases since 2020, including a rare Pikachu Illustrator card selling for $16 million earlier this year.
Topics: Mercari Pokémon cards share price movement trading restrictions