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