'Candy Crush' maker's stock falls in public debut

Wall Street is giving King Digital, the company behind the popular mobile game “Candy Crush Saga,” the cold shoulder in its public trading debut.
By BARBARA ORTUTAY, Associated Press Published: March 27, 2014
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A crush it isn’t.

Wall Street is giving King Digital, the company behind the popular mobile game “Candy Crush Saga,” the cold shoulder in its public trading debut.

King’s stock priced at $22.50 on Tuesday, valuing the company at $7.1 billion. But it opened on Wednesday at $20.50, down almost 9 percent. Its shares lost more ground by the day’s close, falling more than 15 percent.

King Digital Entertainment PLC had $1.88 billion in revenue last year. That’s more than 10 times its 2012 revenue of $164.4 million.

King is trading on the New York Stock Exchange under the ticker symbol “KING.” Shares fell $3.50 to close at $19.01 Wednesday.

Associated Press