Zynga’s Stock Drops Nearly 12 Percent as Investors Cash Out

Zynga’s stock lost some of its gains in the new year today, sliding nearly 12 percent, or 43 cents, to $3.24 a share. There didn’t appear to be any specific reason for the drop, other than investors were taking advantage of the recent run-up to sell the stock (trading volume was three times higher than normal). The game company’s COO David Ko and CFO Mark Vranesh appeared at the Goldman Sachs Technology and Internet Conference this afternoon, where they mostly reiterated the company’s fourth-quarter results.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work