Zynga (ZNGA) Shares Plunge 6+%; New Low Set at $7.58
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Shares of Zynga (Nasdaq: ZNGA) have just pushed below support at $8 and are now down more than 6 percent to $7.78. Prior to this morning's move, Zynga shares traded below this level during only two trading sessions. The stock marked a fresh 52-week low at $7.58 earlier.
Investors may be selling the stock following solid Q4 results from EA (Nasdaq: EA), but Q1 and FY12 guidance which came in below the Street. Heard on EA's conference call, an exec said Zynga "overpaid" for OMGPOP.
Investors may be selling the stock following solid Q4 results from EA (Nasdaq: EA), but Q1 and FY12 guidance which came in below the Street. Heard on EA's conference call, an exec said Zynga "overpaid" for OMGPOP.
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