King Digital Entertainment PLC (KING) Might Reach $24: Jim Cramer


During the “Mad Money” show on CNBC, the anchor of the show, Jim Cramer has discussed about the King Digital Entertainment PLC (NYSE:KING). The stock of the company has experienced a downfall right after its IPO at the end of March and currently keeps going up. Cramer has discussed the stock and whether investors should sell it or still hold it.

King Digital Entertainment PLC (NYSE:KING), Delta Air Lines, Inc. (NYSE:DAL), top stocks YTD, Jon Najarian, Pete najarian

Cramer said that he has been very puzzled on the stock and recently the stock was up ten points due to a positive research note released on the stock. Cramer added that he liked other companies in the same industry as Electronic Arts Inc. (NASDAQ:EA) and Take-Two Interactive Software Inc. (NASDAQ:TTWO), which have been big winners.

“King Digital? The way I look at it, it’s not as bad as we thought. That probably takes it to $24” Cramer said about King Digital Entertainment PLC (NYSE:KING).

King Digital Entertainment PLC (NYSE:KING), the maker of the game ‘Candy Crush’ has gained nearly 15.3% i.e. $2.70 and had closed at $20.55 on June 30, 2014. The gain in the stock price was mainly the result of positive comments given by analysts on the upcoming launch of some new games and the cash flows of the company.

Moreover, the launch of new games by the company has reduced its overdependence on its famous game named “Candy Crush Saga.”

Crammer also spoke to viewers on a number of themes that are currently ruling the stock markets. The themes that he recommended included Bio-Tech, Auto sector, Internet plays, Airlines, Cloud Computing, and Restaurants.

Cramer also commented on the recent GoPro Inc. (NASDAQ:GPRO) IPO. He said that the IPO was oversubscribed 30 times and that the buying spree by Mutual Funds is resulting in further gains in the stock price.

Disclosure: none