Zynga (ZNGA) Looks Like Death
Tweet
Share
E-mailGet Alerts ZNGA Hot Sheet
Join SI Premium – FREE
Friday's IPO for Zynga, Inc. (Nasdaq: ZNGA) continues to look like death on a stick.
Since pricing at $10 per share, then opening at $11, it has been all downhill.
Shares of Zynga currently sit at $9.15, down 3.7%.
The large float is said to be to blame for the horrible stock action. The company sold 100 million shares in the offering. This was directly opposite to other highly anticipated Internet IPOs, which sold a minimum amount of shares.
Since pricing at $10 per share, then opening at $11, it has been all downhill.
Shares of Zynga currently sit at $9.15, down 3.7%.
The large float is said to be to blame for the horrible stock action. The company sold 100 million shares in the offering. This was directly opposite to other highly anticipated Internet IPOs, which sold a minimum amount of shares.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- SpaceX Shares Indicated To Open At $155
- UAE To Unlock Billions Of Dollars For Iran, Sources Say - Reuters
- Forbright completes $142.2 million IPO on Nasdaq
Create E-mail Alert Related Categories
IPOs, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
