It looks as though Zynga was right to err on the side of caution when it priced its long-awaited IPO on Thursday evening. The social media gaming company priced the offering at a very conservative $10 per share, below the rumored $12 price per share that it was said to be considering. On Friday morning, trading of Zynga’s shares began on the Nasdaq Stock Market at $11 per unit. They quickly reached $11.50 and then just as quickly dropped back to $9.52 — all within 15 minutes of the 11 a.m. ET launch.
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Zynga Shares Hover Around IPO Price in Tepid Debut
Posted by: Erika Morphy December 16, 2011 10:46 AMIt looks as though Zynga was right to err on the side of caution when it priced its long-awaited IPO on Thursday evening. The social media gaming company priced the offering at a very conservative $10 per share, below the rumored $12 price per share that it was said to be considering. On Friday morning, trading of Zynga’s shares began on the Nasdaq Stock Market at $11 per unit. They quickly reached $11.50 and then just as quickly dropped back to $9.52 — all within 15 minutes of the 11 a.m. ET launch.