Shares of the Japanese online marketplace Mercari experienced a turbulent week, ultimately jumping over 4% on Friday. This surge marked a rebound following a mid-week selloff triggered by the company's recent restrictions on listings for Pokémon's 30th-anniversary products.
LONDON, ENGLAND - FEBRUARY 21: Competitors hold and deal Pokemon cards as they play during the during the Pokémon European International Championship 2025 at ExCel London on February 21, 2025 in London, England. Players are playing for Championship Points that will determine who will earn an invitation to the 2025 World Championships in Anaheim, California, in August.
John Keeble | Getty Images News | Getty Images
Mercari's stock had tumbled more than 6% on Wednesday, the day the new restrictions came into effect. However, it began to recover, closing 1.4% higher on Thursday before Friday's significant gains. The company announced the temporary ban on Tuesday, citing concerns over a potential surge in transactions and associated risks like trading disputes and user harassment stemming from the release of the highly anticipated anniversary products. Mercari stated that these restrictions would remain active as long as a safe and secure trading environment cannot be guaranteed.
Citibank weighed in on the volatility, attributing Wednesday's sharp drop directly to Mercari's announcement. Despite the initial negative reaction, Citi analysts labeled the shares "oversold," suggesting that the recent price weakness had pushed the stock to "overly pessimistic levels" and presented an investment opportunity. The bank noted that the growth in the value of goods sold on Mercari's marketplace in the second half of fiscal 2026 had exceeded expectations. Furthermore, a broader recovery across multiple product categories is anticipated to support double-digit growth for the platform. Citi acknowledged the negative aspect of the listing halt but concluded that its impact was not substantial enough to warrant a revision of its financial forecasts for Mercari.
The current restrictions by Mercari underscore the immense global popularity and value of Pokémon cards. Online marketplaces like eBay have reported staggering search volumes, with "Pokémon" being searched over six million times on its U.K. site in a single month. Data compiled by Collectors, the parent company of card grading agency Professional Sports Authenticator (PSA), indicates that Pokémon card prices have surged an astonishing 1,350% since 2020. High-profile sales, such as influencer Logan Paul's rare Pikachu Illustrator card fetching over $16 million after being purchased for just over $5 million in 2021, highlight the lucrative nature of this market. New card releases often sell out within minutes, with enthusiasts coordinating on platforms like X (formerly Twitter) and Discord to track availability. Recent reports even claim a record-setting Pokémon card auction at $2.7 million.
Mercari's proactive stance is not new; the company signed an agreement with The Pokémon Company in 2023 to foster safer trading practices. In 2025, it further implemented a policy allowing it to restrict listings when market safety is threatened by issues such as fraud, transaction disputes, or extreme price fluctuations.
