Joined Nov 11, 2007
31,929 Blog Posts

$ZNGA Having a Bad Day as They Receive Insider Trading Lawsuits

“Zynga’s stock has crated to around $3 from an IPO price of $10.

Or, more importantly, it’s now under $3, down from $12 when Zynga had a secondary offering of shares in April earlier this year.

During that secondary offering, insiders like Mark Pincus and a number of investors cashed out, selling about $516 million in stock.

Then Zynga had a disastrous second quarter where it reduced its full-year guidance, sending the stock tumbling.”

Full article

If you enjoy the content at iBankCoin, please follow us on Twitter