Zynga Shares Tumble, Traders Say Fewer People Gaming On Facebook
Social gaming company Zynga, which opened in December at $10 per share, has seen its stock fall below $5 for the first time, as traders believe fewer people are playing games on Facebook.
Social gaming company Zynga, which opened in December at $10 per share, has seen its stock fall below $5 for the first time, as traders believe fewer people are playing games on Facebook.
Reuters reported Tuesday that the stock value of Zynga — the producer of popular games such as FarmVille and Draw Something — hit an all-time low of $4.78. Analysts feel that as more people play games on their cell phones, fewer visit Facebook to get their gaming fix.
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