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Zynga stock plummet prompts NASDAQ short sale ban

Stock in social gaming giant Zynga crashed yesterday, dropping 10% to close below $5.

For those not au fait with markets, that's a significant dip indeed - so significant that NASDAQ applied a 24 hour ban on short sales of the company's shares.

The sudden crash seems to be related to a Cowen & Co which described social gaming as being in a "tailspin" in conjunction with the extension of Draw Something to 12 new languages.

Zynga went public in December 2011 for $1 billion, the largest tech IPO since Google's 2004 debut, but has noted generally downward market fluctuations in the interim.

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Brenna Hillier avatar

Brenna Hillier

Contributor

Based in Australia and having come from a lengthy career in the Aussie games media, Brenna worked as VG247's remote Deputy Editor for several years, covering news and events from the other side of the planet to the rest of the team. After leaving VG247, Brenna retired from games media and crossed over to development, working as a writer on several video games.

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