It's not quite above water yet, but the signs are that the share price of King (NYSE: KING) will soon be back in black.
Infamously, the company's stock opened 10 percent down on its float price of $22.50 in late March and has been dropped down ever since.
Well, no more it seems.
Hitting a nadir of $15.26 in mid-May, King's share price had been slowly rising, until the end of last week when it's jumped from $17, closing at $20.55, up 15 percent on Monday.
No reason has been provided, other than financial websites noting that the shares were experiencing a lot of trading volume.
Stuck to the ceiling
And King isn't the only US floated F2P mobile gaming stock on the up.
Glu Mobile (NASDAQ: GLUU) has also experienced a strong rise in its share price over recent days. From a price of $3.78 on Thursday, it's now $5.00; not far off its 52-week peak of $5.65.
Again, there's no particular news to pin this performance to; Glu's most recent release is a fashion game based on Kim Kardashian.
Yet, there is one F2P gaming stock that refuses to rise on this general market enthusiasm.
The share price of Zynga (NASDAQ: ZNGA) remains rooted around the $3-$4 range, way below its December 2012 IPO launch price of $10.
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GLUU's penetration into the Top Grossing via a female-centric game (something we haven't seen since the CrowdStar days) is somewhat of an anomaly. Yes, it is an IP title, but it's still extremely impressive.
Lastly, if you consider that it's market cap was only ~$300M but is now is generating more than $500K/day, you can start to understand why the public thinks its worth more than it currently is. Just my two cents :)