Angry Birds Maker Rovio Plunges After Games Head Quits
- Rovio falls as much as 14% a week after losing half its value
- Games maker reported full fourth-quarter earnings and dividend
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The maker of the Angry Birds game, Rovio Oyj, plunged on Friday after the Finnish company said its head of games was leaving “with immediate effect” and reported full fourth-quarter numbers that failed to appease angry investors.
The shares sank 14 percent at one point on Friday, and traded about 11 percent lower as of 3:06 p.m. in Helsinki. The selloff comes just over a week after Rovio lost half its market value after disappointing shareholders with its preliminary results and outlook.