This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Candy Crush Maker King Digital Entertainment (KING) Falls After IPO (Update)

Update (4:20 p.m.): Updated with Wednesday market close information.

NEW YORK (TheStreet) -- King Digital Entertainment  (KING - Get Report), maker of the popular mobile game Candy Crush Saga, dropped to a low of $18.90 in its debut on Wednesday after the company's initial public offering.

King priced its IPO at $22.50, the midpoint of its range, and sold 22.2 million shares to raise slightly less than $500 million. This values the company at slightly more than $7 billion.

The stock closed down 15.56% to $19.

King has drawn comparisons to Zynga  (ZNGA), which created the once wildly popular game Farmville. Zynga had its IPO in 2011 with a $7 billion valuation, or $10 per share. The stock peaked at $14.69 per share in Feb. 2012 and has generally declined since then. It currently trades around $5.80 a share, a more-than 40% decline from its stock market debut.

Candy Crush had 97 million daily active users and more than 1 billion daily game plays in February.

Must Read: Warren Buffett's 10 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. KING Chart

KING data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
KING $14.99 0.00%
AAPL $129.62 0.00%
FB $79.34 0.00%
GOOG $532.32 0.00%
TSLA $247.46 0.00%


DOW 18,041.54 -190.48 -1.04%
S&P 500 2,104.20 -21.86 -1.03%
NASDAQ 5,032.7510 -56.6110 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs