Zynga Halted Following Delay in Facebook IPO
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Shares of Zynga Inc. (NASDAQ: ZNGA) were halted shortly afterFacebook Inc. (NASDAQ: FB) launched this morning as the delayed opening caused the game-maker’s shareholders to run away from the stock in big numbers. Shares had dropped more than -13%.
Trading was halted after Zynga’s shares fell by -10%, then were briefly reopened before being stopped again.
Shares are now trading once more, down about -5.7% at $7.80 after posting a new 52-week low of $7.08. The previous 52-week range was $7.34-$15.91.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.