NEW YORK/SAN FRANCISCO (Reuters) - Online games developer Zynga Inc scored badly as it went public on Friday, dashing hopes for the year's hottest tech IPO, as investors frowned on its over-reliance on Facebook, dimming growth prospects, and outsized control by CEO Mark Pincus. Zynga's stock fell 5 percent below its $10 initial public offering price to close at $9.50 on Nasdaq on Friday, dealing losses to IPO buyers used to racking up gains on a stock's first day of trading. ...
Saturday, December 31, 2011
Zynga falters in debut, sheds doubt on IPO market
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment