The Canadian PressMarch 26, 2014 11:17
NEW YORK, N.Y. - A crush it isn't.
Wall Street is giving King Digital, the company behind the popular mobile game "Candy Crush Saga," the cold shoulder in its public trading debut.
King's stock priced at $22.50 on Tuesday, valuing the company at $7.1 billion. But it opened on Wednesday at $20.50, down almost 9 per cent. Its shares lost more ground by the day's close, falling more than 15 per cent.
King Digital Entertainment PLC had $1.88 billion in revenue last year. That's more than 10 times its 2012 revenue of $164.4 million.