Facebook IPO Helps Boost Zynga (ZNGA) Stock Price

Why ask “When is Facebook IPO coming out” when recent IPO Zynga, Inc. (NASDAQ: ZNGA ) is “booming” since Facebook announced going public. Shares in ZNGA traded nearly 6x its Average Volume since its IPO in December yesterday on the heels of Facebook’s announcement.

ZNGA traded as high as $12.91 in yesterday’s trading session.
ZNGA closing price yesterday was $12.385, up +16.84% (+1.785).
ZNGA traded volume of 59,038,460.

ZNGA is trading:

  • $ 3.025 above its 20 day moving average,
  • $ 2.295 above its 10 day moving average and
  • $ 1.605 above its 5 day moving average.

ZNGA has a Market Cap of $8.66B with a 520.89M Share Float.

Facebook revealed it made 12% of its revenue last year from video game publisher ZNGA. Zynga leverages Facebook’s 800 million user base to achieve viral distribution of games, which boosts user growth and minimizes sales & marketing costs,” wrote Morgan Stanley’s Scott Devitt in a note to clients last week. He rates Zynga “overweight” with a $14 price target.

While waiting for Facebook to IPO, add ZNGA to your watch list as it should pop again on the coattails of the IPO launch date of the Social Media Giant.

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