Where does Zynga go from here?
Zynga CEO Mark Pincus (middle) when the company went public
Yesterday, Zynga announced a big writeoff and told Wall Street its growth was slowing. Today, Wall Street returned the favor by crushing Zynga shares, forcing them down 12 percent to $2.48.
Analysts say Zynga could still recover. It remains a leader in the casual gaming industry, with more than 300 million monthly users, and and as of July 30, it held a decent financial cushion in the form of $436 million in cash and equivalents on hand — a good chunk of the $1 billion it raised in its IPO late last year.
It’s starting to look…
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