March 26 saw one of the biggest tech IPOs of the year go flat. But while the event itself was disappointing for investors, it was a glorious field day for financial writers looking to show off their pun-tastic talents.
The inciting incident was the emergence on the public market of a single company with basically a single product, both with names ripe for parody. On Wednesday King Entertainment (KING) , the makers of the once wildly popular and now just very popular app game Candy Crush Saga, offered shares on the public market for the first time. Expectations for major tech company IPOs have gone through the roof since Facebook’s disastrous one and Twitter’s highly successful offering.
Comparatively, King’s IPO was just rather disappointing. Not monumentally successful nor an outright failure, but just merely bad, with the company dropping some 20 percent the next day. But while the event itself was rather disappointing for investors, they can take solace in the fact that it provided an excellent opportunity for otherwise droll financial writers to flex their wordsmithery.
Here are our favorites:
“King of the IPO or Candy Crushed?” Marketwatch, March 25
“King IPO: Will Candy Crash?” Forbes, March 25
"By Waiting to IPO, King 'Crushed' Their Chances," Equities.com, March 25
“Not so royal flotation,” The Economist, March 26
“How King Digital Stacks Up Against Other IPO Duds (Hint: It's King!),” Wall Street Journal, March 26
“King.com IPO Does Not Crush It,” Techcrunch, March 26
“Underwriters Let King Digital Get Candy Crushed,” Bloomberg, March 26
“Sour Candy: Weak King.com IPO Robs Chairman and CEO of Hundreds of Milions,” Forbes, March 26
“Candy Crash?” Geekwire, March 26
“Not So Sweet IPO: Candy Crush Maker Slides 15 Percent,” USA Today, March 26
“King IPO Gets Candy Crushed,” TIME, March 26
“No Sugar High for Wall Street,” NPR, March 27
“The King’s Splat,” Barron’s, March 27
And the winner for “Most Convoluted Pun” goes to…
“King Digital went sour but IPO market may still be too spicy,” Yahoo Canada Finance, March 27
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