Shares of Mercari rose more than 4% on Friday, recovering from a steep decline earlier in the week triggered by new restrictions on listings for Pokémon’s 30th anniversary products.
The Japanese online marketplace announced on Tuesday that it would ban listings for these items indefinitely as long as it cannot guarantee a safe trading environment. The policy took effect on Wednesday, causing Mercari’s stock to fall 6.4%, before it rebounded 1.4% on Thursday.
Mercari stated the temporary ban addresses concerns that the anticipated surge in transactions could lead to trading disputes and user harassment. The company emphasized that the restrictions will remain in place until it determines that marketplace safety can be ensured.
Citibank described the recent pullback as an investment opportunity, calling the shares “oversold.” Analysts noted that while the halt on certain products is negative for revenue, the impact is not significant enough to warrant a revision of forecasts. The bank also highlighted that growth in the value of goods sold during the second half of fiscal 2026 has exceeded expectations, driven by recoveries across multiple categories.
The restrictions come amid a global resurgence in Pokémon card popularity. Online search volume for “Pokémon” on eBay’s U.K. site exceeded six million times in July alone. According to an index compiled by Collectors, which owns grading agency Professional Sports Authenticator, Pokémon card prices have surged 1,350% since 2020.
The market’s enthusiasm was further fueled in February when influencer Logan Paul sold a rare Pikachu Illustrator card for over $16 million, having purchased it for slightly more than $5 million in 2021. More recently, a post on X claimed a card sold for $2.7 million at auction, setting a new record.
This move follows Mercari’s 2023 agreement with The Pokémon Company to promote safer trading practices and a 2025 policy update that allows the platform to restrict listings when issues such as fraud, extreme price volatility, or transaction disputes threaten user safety.
Wait, a card sold for $2.7 million? That’s absolutely wild. The Pokémon mania is completely out of control now.
Oversold? Citi says yes, but I wonder if the revenue hit is bigger than analysts admit. Hard to ignore that ban.
Great rebound, but I hope Mercari learns from this. Safety first should never be an afterthought for big sellers.