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King Digital Entertainment (KING) Stock Gains on Heavy Volume

NEW YORK (TheStreet) -- King Digital Entertainment (KING) was gaining 14.3% to $20.40 Monday on heavy trading volume.

More than 6.5 million shares of the Candy Crush Saga publisher were traded by 3:25 p.m., well above the daily average trading volume of about 1.3 million shares a day.

King's gains may be in response to recent gains by competitor Glu Mobile (GLUU) which recently launched an iPhone game featuring Kim Kardashian.

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KING Chart

KING data by YCharts

"King Digital Entertainment plc is an interactive entertainment company. The Company's games include Candy Crush Saga, Pet Rescue Saga, Farm Heroes Saga, Papa Pear Saga and Bubble Witch Saga. As of December 31, 2013, an average of 128 million DAUs played its games more than 1.2 billion times per day. The Company makes casual games, which appeal to a wide and growing audience. Users access its games for free anywhere and anytime they wish to, either on their mobile devices, through social networks or via its Website, king.com. The combination of wide game appeal, accessibility, and its multi-platform capabilities enables to attract a broad user base, foster viral growth, and create a compelling, fun and social experience.The Company operates in developing and monetizing casual online and mobile games. As of December 31, 2013, the Company had a massive network of 324 million monthly users."

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.

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