NEW YORK -Zynga’s much anticipated IPO lacked real zyng today as the maker of social games' stock fell over 5%. This was the largest IPO since Google went public. The company is currently valued at just under $9 billion. The company's market value now exceeds that of Electronic Arts but earlier in the year people valued the company at close to $20 billion. The IPO priced yesterday at $10 and investors likely thought there would be a 30% to 100% pop in the price given what has happened in all the social IPO's on the first day including: Renren, LinkedIn, Pandora and Groupon. However investors have run runned from the Zyna offering. Investors lacked the zing today to push the stock higher.
The company's profits have stumbled over the last year and their growth has slowed. The company also is at risk since most of its money comes on the Facebook platform. The stock did pop around 10% today briefly but not much Zing seen in today's IPO.
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