How low will the stock price of Zynga go? Or is an uptrend to finally happen today after two consecutive days of price declines?
That’s the $8.9 billion-question in the minds of investors who are wondering whether they made a mistake in buying Zynga shares (stock code: ZNGA) during its initial public offering (IPO) last week.
The dot-coms are back. In recent months, several websites have underwent initial public offering (IPO) raising billions of dollars for their owners and investors.
In May 2011, professional networking site LinkedIn went public and its price surged 109% over the IPO price on the first trading day. The company is currently valued at $9 billion.
The most-awaited tech-related IPO is no doubt Facebook. The social networking site, which boasts of more than 600 million users as of January 2011, is estimated to have a value of $50 billion.
But before the Facebook IPO craze starts, a Facebook games maker has already decided to be ahead of the game. Zynga, maker of popular Facebook games such as Farmville, Cityville and Zynga Poker, filed paperwork today paving the way for their upcoming IPO.
