Nintendo stock jumps as the latest Zelda game releases to rave reviews

• Nintendo stock jumped as much as 3% on Friday after the company released its newest Zelda videogame.
• "The Legend of Zelda: Tears of the Kingdom" follows up the massive success to "Breath of the Wild," which was released six years ago.
• The new installment of the Zelda videogame series has received positive reviews, earning a score of 96 at Metacritic.

Nintendo stock jumped as much as 3% on Friday after the company released the highly anticipated next installment of its Zelda videogame franchise.

"The Legend of Zelda: Tears of the Kingdom" is a follow-up to Nintendo's "Breath of the Wild" blockbuster, which has sold nearly 30 million copies since its release six years ago.

The new Zelda game has been highly praised, with the game receiving an incredibly high review score of 96 at Metacritic. And those solid reviews should help drive sales for years to come.

A lot is at stake for Nintendo with the launch of "Tears of the Kingdom" because it has the ability to help drive sales of its Switch console. That's exactly what JPMorgan thinks will happen, according to a recent note.

JPMorgan analyst Haruka Mori said she expects Nintendo's software and hardware sales to accelerate and build momentum on the successful launch of the Zelda game. "We expect the share price to remain firm," Mori said.

The Zelda game is also important to Nintendo because it increases the company's ability of prolonging its hardware cycle, as the console is now six years old.

Meanwhile, Nintendo is also riding the success of its first major film release in decades, with the "Super Mario Bros Movie" generating more than $1 billion in movie ticket sales since its debut last month.