The Pokemon Go bubble doesn’t show any signs of bursting right now, though it already has for Nintendo.

Two weeks ago, we reported that Nintendo’s shares had risen sharply due to the popularity of the augmented reality phenomenon, which recently hit iOS and Android smartphones. This was in spite of the fact that Nintendo itself doesn’t actually own the franchise. The IP really belongs to The Pokemon Company, which was formed from a joint investment between not only the Mario maker but also Game Freak and Creatures. As such, the actual profit Nintendo will make from the app’s success is drastically reduced. Others are finally starting to grasp that fact.

Nintendo put out a statement last Friday clarifying that Pokemon Go would have a “limited” impact on the company’s “consolidated business results”. As a result, The Guardian reports that the company’s shares have fallen 17% today. That’s a sharp drop but it’s also important to point out that these shares rose far higher than they’ve fallen thus far, so it could be that Nintendo still comes out of this on a positive note, especially as Pokemon Go continues to grow in popularity with its recent launch in Japan.

Still, this may be a sign of things to come. Nintendo is planning to embrace smart devices with its own stable of IP and we can see a Super Mario game or something along those lines easily having a similar sort of impact on the market, AR or not. As for VR? The company remains coy on if it could be working on its own headset, recently confirming that it was indeed looking into the tech but not commenting on the rumors that its upcoming console, codenamed NX, could support it. It’s due for release early next year so hopefully we’ll find out soon.

Pokemon Go, meanwhile, continues to make headlines thanks to the sheer amount of people playing it. Niantic’s game has recaptured the spirit of franchise’s beginnings. Long may it reign.

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