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King Stock Bumped Up by Tencent Partnership

News that Chinese mobile giant Tencent would distribute King’s Candy Crush Saga on QQ and WeChat in China sent the recently-IPO’d company’s stock up more than three percent today. Shares rose 60 cents to 18.03 as of the closing bell before retreating a bit to 17.90 in after-hours trading. The partnership is noteworthy given Tencent’s large social-mobile footprint in China, with a combined 1.1 billion monthly active users on its two social platforms as of Q4 2013. A successful launch in China may turn around King’s Candy Crush revenue, which dropped off last quarter.

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