Zynga Inc (NASDAQ:ZNGA)’s Pincus changes stand?

Posted by Lynn Eisler October 7, 2013 0 Comment 2340 views

The founder of Zynga Inc (NASDAQ:ZNGA), Mark Pincus who is also the company CEO is trying to do a quick backtrack on a statement he made while at a roof top talk in Israel. He denied that he was not interested in games and said that the Wall Street Journal had misquoted what he had said.

He maintained that he does not currently have a favorite game at the moment and that the current crop of games did not hold his interest and he personally felt that they needed a great deal of improvement. He said that just as the TV industry is perpetually in change-mode, the Gaming industry should try to do the same. He added that he cannot imagine himself being in any other industry.

Friday’s trading session

In Friday’s trading, Zynga Inc (NASDAQ:ZNGA) rose by 5.48%. The opening price of the shares was $3.70, which climbed to an intraday high of $3.77 and dipped to a close of $3.70. Approximately 13 million shares were traded on Friday while an average volume of 3.76 million shares were traded over a 30 day period. The 52-week low of Zynga Inc (NASDAQ:ZNGA) shares is $2.09 and its 52-week high is $4.03. The company has a market capitalization of $1.50 billion.

About the company

Zynga Inc (NASDAQ:ZNGA) is a social game services provider. It is involved in developing, marketing and operating online social games. These are operated as live services that are played via the Internet as well as on mobile platforms and social networking sites. Zynga Inc (NASDAQ:ZNGA) games are accessible on FB and various other social networks, mobile-platforms and the company’s website Zynga.com. As per AppData, as of 31 December, 2012, Zynga Inc (NASDAQ:ZNGA) had 5 of the top-10 games on FB based on DAUs. Its players are also involved with its games being played by 63M DAUs, globally as of 31 December 2012

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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