The IPO of King.com has been surrounded by concerns that they may be a one-hit wonder only riding the success of Candy Crush Saga. The IPO was priced at $22.50 this morning trading at two dollars below that and after four hours it's down just under 13 percent to $19.63 having recovered slightly from the early trading. While not a complete disaster, it's certainly not the start they would have liked.
Remains to be seen what happens to the King stock, as they'd want to avoid going the way of the Zynga stock and similar bubbles that the stock market is growing increasingly wary off.
Update: At the end of its first day King landed at $19 per share a decline by almost 16 percent. It's the first tech IPO in over a year, and it's not the kind of reception they were hoping for. Clearly, the market is sceptical of the gaming industry following the sharp decline of the most recent IPO Zynga.