By the close of trading, King.com’s stock was at $19 per share, down 15.56%, giving the company a market cap of $2.28 billion, just over half the market cap of Zynga at $4.07 billion. After hours, King.com’s share price continued to fall.
It’s a sign that after healthy debuts for the likes of Twitter and a number of other tech companies in the last 12 months after Facebook’s stumble, it’s clear that investors are not taking all tech IPOs with open arms.
The $22.50 was at the mid end of the $21-24 range it initially set when it filed on
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