Zynga price falls 13.3% as Facebook IPO trades flat

Shares of online social game maker Zynga plunged 13.3 percent and triggered a trading halt Friday as Facebook's IPO fell flat with investors.

Shares in Zynga, which makes popular games used on Facebook and other platforms, were halted at $7.17, near where they started at the beginning of the week before a strong climb ahead of Facebook's market debut.

Shares of other popular social media companies like Pandora, LinkedIn, and Groupon also tumbled with the Facebook listing: Pandora was off 5.2 percent, LinkedIn 1.2 percent and Groupon 5.6 percent.

Zynga provides about 15 percent of Facebook's revenue, but the company does not hold shares in Facebook.

Nevertheless, its shares fell in parallel with Facebook's, which opened on the Nasdaq Friday at $42 but then quickly fell back to the initial public offering price of $38 as early investors grabbed profits.

At $7.17, Zynga's price was far below its December 2011 IPO price of $10.

Zynga makes and operates the online games FarmVille, Mafia Wars CityVille, Words With Friends and Zynga Poker.

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Ayungin dilemma Ramon Casiple - Parallaxis
    Ayungin dilemma

    China faces a dilemma in Ayungin Shoal and other contested areas. If it waits for the ITLOS—which may decide against it—it would have tacitly bound itself to UNCLOS and risk a rogue state reputation if it asserts its claim in the South China Sea. If its militarily acts now, it may face international isolation. …

  • 48 nabbed in biggest anti-trafficking catch in Bongao VERA Files - The Inbox
    48 nabbed in biggest anti-trafficking catch in Bongao

    By Jake Soriano, VERA Files Bongao, Tawi-tawi—A team of Marines and policemen intercepted around noon Thursday 48 people, 12 of them minors, believed recruited by a human trafficking syndicate for work in Malaysia. The arrest constitutes what advocates called the … Continue reading → …

  • Docs vow to pay right taxes, make peace with BIR VERA Files - The Inbox
    Docs vow to pay right taxes, make peace with BIR

    By Kiersnerr Gerwin Tacadena, VERA Files Leaders of the medical profession have made peace with their former adversary, the Bureau of Internal Revenue (BIR), and joined forces in a campaign to get doctors to pay the right taxes. BIR Commissioner … Continue reading → …

POLL
Loading...
Poll Choice Options