The developers of the wildly popular Candy Crush Saga (97million players worldwide), King’s stock plummeted an impressive 15 percent in their first day of trading. The company’s initial public offering garnered $500million from the sale of 22.2 million shares.
King’s shared opened at $22.20, lower than the offering price. The session actually ended on the New York Stock Exchange at the price of $19 per share, a loss of 15.56 percent. So after day one, King has a market value of $5.98 billion. Not quite the $7.6 billion they were hoping for.
I suppose that’s what they get for being jerks…
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