Super Mario Run wasn't as successful as expected.

The criticism of " Super Mario Run " appears to be causing confusion among Nintendo shareholders, which suggests a lack of clarity regarding the game's true success. Despite a statement praising the game's performance and a drop in the company's stock price since the app's launch, the numbers and user feedback seem to tell a different story.

At the close of trading on December 14, Nintendo's shares ended at 27.975 yen per share. By the end of the trading day on December 20, the price had fallen to 24.815 yen per share.

This is not new for Nintendo, as the company's stock surged on July 19 of this year due to the " Pokémon GO " phenomenon, approaching 31.770 yen per share. Days later, the stock lost half of its short-term gains after Nintendo reminded its investors about the revenue sharing required for Pokémon GO.

The two titles, "Super Mario Run" and "Pokémon GO," have different revenue models. "Super Mario Run" is wholly owned by Nintendo and has a one-time purchase of $9,99 that unlocks new game modes, among other things. On the other hand, "Pokémon GO's" revenue is shared by many parties and relies on in-game consumable purchases.

Nintendo has not released a statement regarding the percentage of players purchasing the upgrade for the full game. However, it is believed that between 5 and 9 percent are upgrading the game by paying a one-time fee of $9.99.

Nintendo states that there are no plans to expand the game at this time.

Super Mario Run was unveiled during the iPhone 7 launch event in September. Nintendo also promised titles related to the "Fire Emblem" adventure series and the "Animal Crossing" city builder for mobile devices in March 2017.