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Playtika Holding Corp.

Company NamePlaytika Holding Corp.
Stock SymbolPLTK
Class PeriodJanuary 15, 2021 to November 02, 2021
Lead Plaintiff Motion DeadlineJanuary 24, 2022

On or about January 15, 2021, Playtika conducted its IPO, selling approximately 18.5 million shares of common stock priced at $27.00 per share.

Then, on May 11, 2021, Playtika announced its financial results for the first quarter of 2021.  While the Company's revenue beat expectations by $57.97 million, its GAAP earnings per share ("EPS") of $0.09 missed consensus estimates by $0.04.

On this news, Playtika's stock price fell $0.93 per share, or 3.47%, to close at $25.89 per share on May 11, 2021. 

Then, on November 3, 2021, Playtika announced its financial results for the third quarter of 2021.  Among other items, Playtika reported revenue of $635.9 million, missing consensus estimates by $26.07 million, and GAAP EPS of $0.20, missing consensus estimates by $0.05. 

On this news, Playtika’s stock price fell $6.80, or 23%, to close at $22.72 per share on November 3, 2021, thereby injuring investors further.

The complaint filed alleges that the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s year-over-year total costs and costs related to sales & marketing and research & development were on track to rise significantly by the third quarter of 2021; (ii) the success of the Company’s game portfolio was less sustainable than the Company had represented; (iii) the foregoing issues were likely to negatively impact the Company’s revenue and earnings; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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Shares Purchased

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