King, The Maker Of Candy Crush, Had The Worst IPO Debut This Year

King digital candy crushREUTERS/Brendan McDermidA mascot dressed as a character from the mobile game ‘Candy Crush Saga’ walks the floor of the New York Stock Exchange during the IPO of Mobile game maker King Digital Entertainment Plc March 26, 2014.

King, the maker of hit game Candy Crush Saga, officially debuted on the New York Public Stock Exchange today.

King’s stock closed down 15.56% from its IPO price of $US22.50 a share.

It was one of the biggest day-one drops for a newly listed U.S. company in the past six months, Bloomberg reports. It was also the worst trading debut this year, according to data from Renaissance Capital.

“It almost stood no chance,” analyst Scott Sweet told MarketWatch. “It wasn’t surprising. It’s getting pounded.” He said there appeared to be “a hope for a pop that never materialised” as “traders immediately pulled the trigger.”

Other big day-one drops in the last six months include tech companies Chegg, and Violin Memory.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at