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Zynga's share price dives under $5; lack of interest in social games could be the culprit

NEWS | ? Comments |

Author: Akil Henry  

Famed Facebook game maker and publisher Zynga has seen its share drop 10 percent on Tuesday, as the company continues to have trouble retaining its audience.

Zynga shares hit as interest in social games wanes (Facebook, Draw Something)

This happened as the company just announced that its mobile app, Draw Something, has been expanded to support 12 additional languages.  Zynga's March purchase of the game's original creator, OMGPOP, represented the company's biggest purchase yet at $183 million

With the company's shares falling below $5 for the first time since its initial public offering in December, the stock has tripped a "circuit breaker" intended to stop further drops.

While the news is dire for the company, it doesn't signify a revenue problem. According to a Reuters report, it represents social gaming hitting its peak, with the novelty wearing off and users going elsewhere.

Source: Reuters

Posted on: 06/13/2012 | ? Comments
Tags: Zynga, shares, social, games, juegos, sociales, Facebook, Draw Something, Video Game News
Akil Henry

Akil is a big fan of video games and music, specifically fighting games and R&B. Other interests include game design, and comedy. His background in game design combined with his unique worldview and sense of humor makes him someone to follow.

The views of GameDynamo's writers are not necessarily the views of the website as a whole. However, we support freedom of speech and enjoy diverse opinions about video games. Hopefully you do too!


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