Monday, 14 April 2014

KING - candy still getting crushed

Despite another vain attempt at a bounce in the broader market, King Digital Entertainment (KING) - makers of the infamous 'Candy Crush' game, saw another lousy day, closing -3.2% @ $16.96. Near term outlook remains very weak, and as many recognise..there isn't any floor to stop the declines.

KING, daily


Suffice to say, I do keep an eye on the IPO stocks, and this recent offering remains in a spiral. Certainly, it is not imploding that quickly, yet the price action has been very weak since the open, a mere 14 trading days ago.

Considering the market closed with gains, today's daily decline of another 3% is just outright dire.

Sub $10 looks likely this summer.
- to the game.