Power Lunch

Power Lunch

Final Fantasy VII remake boosts Square Enix stock

Jackson Burke
An image from the Final Fantasy VII trailer
Source: Playstation | YouTube

A trailer for a current-gen remake of Square Enix's Final Fantasy VII rocked the E3 crowd and blew up the internet — the official version uploaded to YouTube has received over 6 million views and counting — but it also pushed Square Enix Holding Co. to its highest level since November 2008.

The stock rose nearly 3% on the announcement of the highly anticipated remake, which gamers have been lobbying the company to make for over a decade. For the 2005 E3 Conference, Square created a tech demo designed to highlight the capabilities of the then-cutting edge Sony Playstation 3.

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The company was quick to clarify when the demo was released that no remake of Final Fantasy VII was planned for the Playstation 3, but the footage captured the imagination of the gaming community and Final Fantasy fans have been pushing to turn it into a reality ever since.

The original Final Fantasy VII, released in 1997 for the first version of the Playstation, has sold nearly 11 million copies.

Square Enix stock closed at 2,956 yen in Tokyo trading after Tuesday's announcement, up from 2,856 at the open.