King was falling 13.7% to $19.41 Wednesday after being initially priced at $22.50 Shares of King traded as low as $19.08 in its first day of trading.
King's flagship game Candy Crush Saga connects to Facebook similar to how many Zynga (ZNGA) titles connect to the social network. The weak IPO of the game publisher helped drive Facebook's stock down after the social networker's acquisition of virtual reality start-up Oculus.
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TheStreet Ratings team rates FACEBOOK INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FACEBOOK INC (FB) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."