Zynga Has a Stock IPO Fail!

Farmville is stupid. Most of their games are stupid. So, they had a stock IPO. It was a fail as well. Wanna buy some stock cheap?

Zynga shares slump 10 percent below IPO in first day

“While there was hope for Zynga, the largest technology flotation since Google’s public debut in 2004, the company’s share price dropped by nearly 10 percent in its first day.

At the end of Zynga’s first day of public trading today, the company fell to just over $9 a share, in what could be the most disappointing stock market debut for a technology company this year.

In the biggest valuation since Google’s initial public offering in 2004, the FarmVille and Mafia Wars game maker’s shares dipped below IPO almost immediately.

Trading had initially opened at $11 a share, a dollar higher than its IPO price of $10. But the share price dipped below the crucial IPO benchmark by early afternoon.

Analysts expected at least a mild dip from market opening this morning, based on poor economic conditions, continuing Eurozone worries, and crucially a less-than steady business model.”