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13-year-old's gold gives air to Japan skateboard stocks; Morito gains 12%

Shares in Morito Co, which distributes skateboarding gear, surged 12% Monday after Nishiya's victory in the Olympic women's street skateboarding event

Momiji Nishiya
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Japan’s Momiji Nishiya, 13, in action. She won gold. Brazil’s Rayssa Leal and Japan’s Funa Nakayama, silver and bronze medallists, too, are only 13 and 16 years old (Photo: Reuters)

Gearoid Reidy & Shoko Oda | Bloomberg
Japan has a new hero in the diminutive form of 13-year-old gold medal-winning skateboarder Momiji Nishiya. Investors are betting that’s good news for stocks connected to a sport that has considerable room to grow in the country.
 
Shares in Morito Co., which distributes skateboarding gear, surged 12% Monday after Nishiya’s victory in the Olympic women’s street skateboarding event. Another Japanese athlete, Funa Nakayama, won bronze in the same event, while on Sunday 22-year-old Yuto Horigome took gold for Japan in the men’s skateboarding event.

Other stocks also climbed as investors and retail traders scrambled for names they thought could

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