King’s stock price picks up as underwriters attempt to crush investor concerns

The saga of King since its March initial public offering is one of doubt and declining share value — but the developer had a bit of a training montage today as it prepares to continue fighting for the rest of the year.

The Candy Crush Saga company’s training montage comes in the form of number of upgrades from industry analysts today. The 40-day silent period following the IPO has ended, which prompted a number of analysts to issue their assessments of the social-game developer. Those statements were nearly all positive and helped lift King’s share price 8.5 percent from $17.56 to $19.05 at the end of trading today. The company is one of the leaders in the $16 billion mobile-gaming industry, and it’s attempting to prove that it has a sustainable business model despite only having one massive hit in Candy Crush Saga, which accounts for 78 percent of its revenue. King’s IPO debuted on March 26 at $22.50 and a $7 billion market capitalization. In trading that day, it immediately lost $1 billion of that value, and it now sits at a $6 billion market cap.

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