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Zynga inches toward penny stock territory

Monday, August 6, 2012

CEO Mark Pincus’ newfound IPO wealth and real estate shopping notwithstanding, San Francisco-based Zynga continues to nose dive. Today’s Wall Street Journal devotes (pay-walled) space to the online game company’s rocky shift to mobile, but here’s the sentence that matters:
Zynga’s shares closed Friday at $2.72, down 73% from its December IPO price of $10.

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