Why Shanda Games Shares Popped

Why Shanda Games Shares Popped

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Shanda Games have popped today by as much as 11% after the game maker launched a new title with early success.

So what: Shanda launched Million Arthur last night on Apple's iOS platform in China, and the company said it promptly rose the charts to become the No. 3 top grossing app across all categories within Apple's App Store in China. That climb occurred in less than eight hours.

Now what: The casual gaming market in China is growing quickly, and investors are optimistic about Shanda's new title getting such a warm reception. Shanda President Tunghai Chien said that Million Arthur grabbed more first-day daily active users in China than its combined total when it launched in Japan, Korea, and Taiwan. Separately, iPhone apps within the top 10 grossing spots have been estimated to generate at least $47,000 in revenue daily within the U.S. market. The figures are likely different for the Chinese market, but there's no doubting Million Arthur's strong showing out the gate.

Interested in more info on Shanda Games? Add it to your watchlist by clicking here.

The mobile revolution is still in its infancy, but with so many different companies it can be daunting to know how to profit in the space. Fortunately, The Motley Fool has released a free report on mobile named "The Next Trillion-Dollar Revolution" that tells you how. The report describes why this seismic shift will dwarf any other technology revolution seen before it and also names the company at the forefront of the trend. You can access this report today by clicking here -- it's free.

The article Why Shanda Games Shares Popped originally appeared on Fool.com.

Fool contributor Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.