Retail Latin America: CANDY CRUSH MAKER OPENS AT $20.50, STOCK IS TANKING

King Digital Entertainment, maker of the game Candy Crush Saga, made its public debut on the New York Stock Exchange this morning, opening at $20.50 a share.

It quickly declined 6% following its market debut. It's currently trading at down 13% at $19.57 a share.

Yesterday, King priced its initial public offering at $22.50 a share, in the middle of the expected range, CNBC reported.

King and early investors, like private equity firm Apax Partners LLP, intend to sell 22.2 million shares, according to Bloomberg, which would raise a little less than $500 million.

The company is now trading on the NYSE under the symbol KING.

King has a library of 180 games, but it relies the most on Candy Crush Saga, which brings in about 80% of King's revenue.

That's where the big red flag comes from. King's revenues and fortunes rely on a single game, and that game is in decline.

Gross bookings in the quarter ending Dec. 31, 2013, were on the decline compared to the quarter ending Sept. 30, 2013. That decline was driven by a decrease in Candy Crush Saga gross bookings.

Check out the scene at the NYSE today.