A: King Digital, better known as the maker of the Candy Crushgame for mobile phones, is turning into a winner for investors.
Shares of the company have soared almost 14% over the past three months, easily topping the 7.1% increase by the Standard & Poor's 500. Bullish investors are encouraged by the fact the stock is crawling back toward the initial offering price set at
Much of the sudden increase in King Digital shares has to do with behind-the-scenes trading factors, says
Bearish investors have bet heavily against the stock. The number of shares being bet against is nearly half the 10.8 million shares available for trading, Bhatia says. That means when bearish investors buy the stock, to close out their bets at the end of the quarter, it caused the stock to rise temporarily.
King Digital may also be benefiting from a rise in shares of rival Blu Mobile following the release of its popular
Most Popular Stories
- McDonald's Packages Coffee for National Distribution
- Castro-Blanco Joins Fifth Street Finance Board
- Ballmer Steps Down From Microsoft Board
- HTC Makes Windows Version of Flagship One Phone
- Uber Hires Obama Campaign Manager David Plouffe
- Eric Holder Bringing Civil Rights Reminders to Ferguson
- Rising Freight Prices Signal Global Recovery
- Bob Marley Musical to Make Premiere in Baltimore
- Russia Claims Ukraine Leaders Are Satanists, Jews or Maybe Even Scientologists
- Sprint Cancels Framily, Rolls Out New Data Pricing Plan