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Tuesday
Jan242012

Zynga (ZNGA) Nearing IPO Price

DateTuesday, January 24, 2012 at 02:51PM

Don't look now but shares of Zynga (ZNGA) just traded to their highest levels since the day the company went public.  After pricing at $10 per share, shares of ZNGA reached as high as $11.50 per share on the day it went public (12/16) but then quickly gave up all of its gains and traded as low as $7.97 in early January.  While the IPO of ZNGA was originally thought of as a lousy deal for investors, anyone who bought the stock the day after it opened for trading is showing a profit on the position, which is more than investors in a lot of other social networking IPOs like GRPN and LNKD can say.

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