Mercari, a Japanese online marketplace, experienced significant share price volatility following its announcement of temporary restrictions on listings of Pokémon's 30th anniversary products. The company implemented the ban on Tuesday due to concerns that a surge in transactions after the release of these anniversary products could lead to trading disputes and harassment of users involved in such transactions. Mercari stated that the restrictions would remain in place as long as it could not ensure a safe and secure trading environment [1].
The market reacted sharply to the news, with Mercari shares closing 6.4% lower on Wednesday, the day the restrictions took effect. However, the stock rebounded, closing 1.4% higher on Thursday and jumping more than 4% on Friday morning, outperforming the Nikkei 225, which was up roughly 1% [1]. Citibank attributed the initial drop of over 6% to the Pokémon card listing restrictions but described the subsequent share-price weakness as having pushed the stock to 'overly pessimistic levels.' Citi labeled Mercari shares as 'oversold' and suggested the pullback represented an investment opportunity [1].
Citi also noted that while the halt to trading of certain products was negative for Mercari, the impact was not significant enough to warrant a revision of the bank's forecasts. The bank highlighted that growth in the value of goods sold on Mercari's marketplace in the second half of fiscal 2026 exceeded expectations, and a recovery across multiple categories could support double-digit growth [1].
The restrictions come amid a global boom in Pokémon card trading. eBay reported that 'Pokémon' was searched more than six million times on its U.K. site in July. According to an index by Collectors, Pokémon card prices have surged 1,350% since 2020. Notable transactions include influencer Logan Paul selling a rare Pikachu Illustrator card for over $16 million in February, after purchasing it for just over $5 million in 2021. A post on X this month claimed a Pokémon card sold for $2.7 million at auction, setting a record [1].
Mercari previously signed an agreement with The Pokémon Company in 2023 to promote safer trading of Pokémon products and introduced a policy in 2025 allowing it to restrict listings when issues such as fraud, transaction disputes, or extreme price swings threaten marketplace safety [1].
CONCLUSION
Mercari's temporary ban on Pokémon card listings led to initial share price declines, but the stock quickly rebounded as investors viewed the selloff as overdone. While the restrictions were seen as a negative, analysts at Citi believe the overall impact is limited and maintain a positive outlook on Mercari's growth prospects. The event highlights both the risks and opportunities presented by the ongoing global Pokémon card trading boom.