'Candy Crush' buyout masks mobile gaming problems

Candy Crush saga game on iPhone
Simon Dawson | Bloomberg | Getty Images

Mobile gaming stocks traded higher Tuesday on the news Activision Blizzard is acquiring "Candy Crush" developer King Digital for $5.9 billion.

The price was a 16 percent premium from Monday's close.

But investors may want to think twice before assuming this event will spark a wave of consolidation in mobile gaming.

Or even that the dealmaking makes any of these companies more valuable.

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