Zynga Stocks Lose Half Their Value Since IPO

June 13, 2012 -

When Zynga went public it was valued at $10 a share, but the social games developer and publisher's stock has not fared so well since that time. The stock which was once valued at $10 per share is now worth a paltry $4 - 5 a share. Add to that declining daily active users in many of its most popular social games on Facebook and it's a very bad day for Zynga.

While its stock seemed to slide today, the company did all that it could to give investors some news that would give confidence in the stock. Zynga announced that its popular Draw Something game would be made available in 12 additional languages to bring in new users worldwide. Meanwhile App Data reported that Zynga's daily active users dropped 8.2 percent to 54.2 million in the month of May.

Zynga shares are hovering at the $4 - $5 a share range at present. Nasdaq also helped by blocking traders from making short sales through today to avoid the stock from going into a complete and utter freefall.

Source: C&VG

 


 
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