Shares of King Digital Entertainment, the maker of the addictive Candy Crush game, tumbled Wednesday in their first day of trading on Wall Street.
The stock, priced at $22.50 a share in its initial public offering late Tuesday, began trading Wednesday on the New York Stock Exchange under the ticker symbol KING. It opened at $20.50 a share then dropped as low as $19.08 apiece before rebounding. About two hours into the trading day, the stock was changing hands at $20.20, down 10% from the IPO price..
King raised about $500 million in the IPO, valuing the company at more than $7 billion.
The firm's NYSE debut brought out several of King's colorful game characters onto the stock exchange's trading floor, including a giant red strawberry, an oversized bear and others who roamed the floor:
Get in on Candy Crush's hot IPO while there's still time—i.e., before it goes to zero