It is safe to say that Wall Street doesn’t play Candy Crush. The anticipated IPO of King has landed with a thud on the floor on the NYSE. With the initial IPO price set at $22.50, the company dived from the outset. It hit a low of $19.08 before recovering to be down 8% in morning trading.

The disappointing showing for King in its debut could set back other planned IPOs. Rumors have been swirling that Dropbox, Spotify and Square were eying going public. Granted, those three companies are showing positive growth in a non-fickle environment. Mobile gaming by its very nature is a shift from one hot game to the next. Investors are concerned that King may not be able to replicate the success of Candy Crush Saga.

For now, the company is highly profitable, earning $567.6 million last year alone. The issue is the bulk of that revenue rests squarely in one game. If the masses move on to a Flappy Bird clone, what happens to King?

Companies may see this as Wall Street shunning young tech companies. That’s not the case here. They see a profitable company, but Wall Street is all about what can you do for me now and in the next year. The past is just that. The past. Quarterly reports start flowing, and if the user base stagnates or declines, Wall Street will push the stock lower.

It could be that King is pulling the Facebook IPO route. Weak debut, only to prove investors wrong and surge higher. The company has the cash to snap up games if they need quick expansion. Or the company could go the way of Zynga.

Today, King could stand a push notification to users to buy stock instead of extra lives.

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