Business Insider reports investors are proving leery of Zynga stock, following the social publisher’s initial public offering last Friday. On the morning of its second day of trading, the stock had dropped 4% from its IPO price to $9.10, and closed at $9.05, almost 10% down. Bloomberg‘s Paul Kedrosky cited both poor market conditions and Zynga’s weak fundamentals for a prediction that the stock will drop to around $6 within the coming 12 months. Zynga’s IPO raised $1 billion, giving it the largest tech IPO since Google’s in 2004, but its first day of trading saw massive fluctuations.
Joining the Destiny 2 open beta? We can help you out.
Destiny 2's open beta social space The Farm will only be live for an hour. Here's when you can get in and what to expect
Destiny 2’s open beta social space is only going to be live for an hour. Don’t miss your window.
The mod that reworks many of the textures and models in The Witcher 3: Wild Hunt, has received a new update which expands the improvements to other parts of the game.
Candy Crush Saga publisher King made its initial public offering overnight, but saw massive day one losses.
King has elected to delay its initial public offering over concerns that the success of its flagship product, Candy Crush Saga, will have negative effetcs on its share worth.