Zynga IPO Breaks Early but Rebounds
(Reuters) - Zynga Inc. shares opened as much as 10 percent above their offer price on Friday, but then rolled back showing that investors were still concerned about its dependence on Facebook and its growth prospects. Analysts and investors had expected Zynga, maker of Facebook games, to raise its price or boost the number of shares it was selling, since demand had appeared strong in recent weeks. Shares of Zynga were down 2.6 percent at $9.74 in early trading, but in the opening minutes of trading on the Nasdaq, the stock rose 10 percent to $11.00.
16 December 2011•2 mins read
