NEW YORK (TheStreet) -- "They actually had some good numbers," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said in regards to King Digital Entertainment's (KING) earnings report, on CNBC's "Cramer's Stop Trading" segment.
He added that the company even showed diversification from its Candy Crush Saga game. But it doesn't matter to investors, who are selling the stock down more than 12% Wednesday.
The company met earnings-per-share estimates, while exceeding analysts' estimates for revenue, yet the "stock is down very big," He said. Shares are down 25% on Wednesday and 65% over the past two months.
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"This just feels very 2000-like," Cramer said of the price action in many newly issued, momentum stocks.
No matter what the companies do, "nobody wants" to buy the stock, he concluded.
-- Written by Bret Kenwell in Petoskey, Mich.