Nintendo’s stock-price rollercoaster hit another hill today.
The company’s shares jumped 28.79 percent in over-the-counter trading following the announcement that Super Mario Run is coming to the iOS App Store in December. Shares of the company are now trading at $36.32. Investors are excited by this move because it signifies that Nintendo is fully embracing the $36.6 billion mobile-gaming market with its top-tier properties.
Nintendo revealed in 2015 that it was going to start making mobile games. The company made a deal with Japanese publisher DeNA to build out an infrastructure to run live games as services, and that culminated with the launch of the Miitomo social platform earlier this year.
The publisher later claimed it would follow up Miitomo with mobile adaptations of its Fire Emblem and Animal Crossing franchises. Those are popular properties among gamers, but they are less well known than Mario or Zelda. By moving Mario up, Nintendo is clearly making a statement that it is focused on generating significant revenue from iOS and Android app markets.