News

Zynga Shares Slide After J.P. Morgan Downgrade

Published on March 5, 2012
by Lauren Goode

Shares of Zynga were down nearly 6 percent Monday morning following a J.P. Morgan downgrade from “overweight” to “neutral.” The note comes after a 51 percent run-up since last January, which analyst Doug Anmuth attributed to investors’ focus on social gaming, the possibility of the legalization of online gambling and optimism over Zynga’s recently-announced game platform, which pushed Zynga shares up 10 percent last Thursday. But Anmuth says he believes ā€œgame economics will not change for Zynga, and it will likely take some time to drive traffic to the new site.ā€

Return to: Zynga Shares Slide After J.P. Morgan Downgrade

URL: http://allthingsd.com/20120305/zynga-shares-slide-after-j-p-morgan-downgrade/